Gabelli cut shares of KMG Chemicals (NYSE:KMG) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other analysts have also commented on KMG. Zacks Investment Research lowered shares of KMG Chemicals from a strong-buy rating to a hold rating in a research report on Wednesday. ValuEngine upgraded shares of KMG Chemicals from a hold rating to a buy rating in a research report on Wednesday. Finally, KeyCorp reaffirmed an equal weight rating on shares of KMG Chemicals in a report on Thursday, June 14th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. KMG Chemicals has a consensus rating of Hold and a consensus price target of $77.33.

Shares of NYSE:KMG traded down $0.79 during midday trading on Thursday, reaching $75.82. The company’s stock had a trading volume of 7,875 shares, compared to its average volume of 147,072. The firm has a market capitalization of $1.04 billion, a P/E ratio of 33.56, a PEG ratio of 0.52 and a beta of 0.28. KMG Chemicals has a twelve month low of $45.81 and a twelve month high of $79.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.70 and a quick ratio of 1.71.

KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Monday, June 11th. The specialty chemicals company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.26. The firm had revenue of $118.60 million for the quarter, compared to analyst estimates of $112.87 million. KMG Chemicals had a net margin of 11.87% and a return on equity of 16.21%. The business’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. equities analysts anticipate that KMG Chemicals will post 4 EPS for the current fiscal year.

In other KMG Chemicals news, VP Christopher W. Gonser sold 5,000 shares of the stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $77.04, for a total transaction of $385,200.00. Following the transaction, the vice president now directly owns 33,213 shares of the company’s stock, valued at $2,558,729.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Morse Asset Management Inc lifted its holdings in KMG Chemicals by 16.5% during the second quarter. Morse Asset Management Inc now owns 55,290 shares of the specialty chemicals company’s stock valued at $4,079,000 after purchasing an additional 7,815 shares in the last quarter. Millennium Management LLC lifted its stake in shares of KMG Chemicals by 8.0% in the second quarter. Millennium Management LLC now owns 143,167 shares of the specialty chemicals company’s stock worth $10,563,000 after buying an additional 10,590 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of KMG Chemicals by 24.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,300 shares of the specialty chemicals company’s stock worth $391,000 after buying an additional 1,049 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of KMG Chemicals by 27.1% in the second quarter. Macquarie Group Ltd. now owns 27,715 shares of the specialty chemicals company’s stock worth $2,045,000 after buying an additional 5,916 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new position in shares of KMG Chemicals in the second quarter worth about $1,332,000. 90.83% of the stock is currently owned by institutional investors and hedge funds.

About KMG Chemicals

KMG Chemicals, Inc, through its subsidiaries, manufactures, formulates, and distributes specialty chemicals and performance materials worldwide. The company's Electronic Chemicals segment is involved in the sale of high purity process chemicals primarily to etch and clean silicon wafers in the production of semiconductors, photovoltaics, and flat panel displays.

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