GSA Capital Partners LLP Decreases Holdings in KMG Chemicals, Inc. (KMG)

GSA Capital Partners LLP lowered its position in KMG Chemicals, Inc. (NYSE:KMG) by 14.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 29,456 shares of the specialty chemicals company’s stock after selling 5,075 shares during the period. GSA Capital Partners LLP owned 0.19% of KMG Chemicals worth $1,617,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in KMG. Legal & General Group Plc increased its stake in shares of KMG Chemicals by 23.2% in the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of KMG Chemicals by 59.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after acquiring an additional 981 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of KMG Chemicals in the 3rd quarter worth $155,000. Hodges Capital Management Inc. acquired a new stake in shares of KMG Chemicals in the 3rd quarter worth $221,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of KMG Chemicals in the 2nd quarter worth $242,000. Institutional investors own 56.17% of the company’s stock.

A number of brokerages have issued reports on KMG. Zacks Investment Research downgraded KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. KeyCorp began coverage on KMG Chemicals in a research note on Tuesday, November 21st. They issued an “overweight” rating and a $63.00 target price for the company. Finally, ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $70.00.

Shares of KMG Chemicals, Inc. (KMG) opened at $67.12 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.92 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1,000.43, a PE ratio of 24.84 and a beta of 0.55. KMG Chemicals, Inc. has a 52-week low of $36.29 and a 52-week high of $67.14.

KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. The firm had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The firm’s revenue was up 44.7% compared to the same quarter last year. analysts predict that KMG Chemicals, Inc. will post 3.14 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, December 21st. KMG Chemicals’s payout ratio is 6.28%.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $50.67, for a total value of $456,030.00. Following the completion of the transaction, the insider now directly owns 1,559,097 shares of the company’s stock, valued at approximately $78,999,444.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $54.33, for a total value of $162,990.00. Following the completion of the transaction, the insider now directly owns 1,532,097 shares of the company’s stock, valued at $83,238,830.01. The disclosure for this sale can be found here. Insiders have sold a total of 210,000 shares of company stock valued at $11,368,650 over the last three months. Corporate insiders own 6.10% of the company’s stock.

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KMG Chemicals Company Profile

KMG Chemicals, Inc manufactures, formulates and globally distributes specialty chemicals. The Company operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Company operates through two segments: Electronic chemicals and Other chemicals.

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Institutional Ownership by Quarter for KMG Chemicals (NYSE:KMG)

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