Public Employees Retirement System of Ohio Invests $465,000 in KMG Chemicals, Inc. (KMG) Stock

Public Employees Retirement System of Ohio acquired a new stake in KMG Chemicals, Inc. (NYSE:KMG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,549 shares of the specialty chemicals company’s stock, valued at approximately $465,000. Public Employees Retirement System of Ohio owned about 0.08% of KMG Chemicals at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in KMG Chemicals by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock valued at $29,609,000 after acquiring an additional 43,214 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of KMG Chemicals by 108.7% in the 2nd quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after buying an additional 209,577 shares during the period. Vanguard Group Inc. grew its stake in shares of KMG Chemicals by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock valued at $18,316,000 after buying an additional 34,875 shares during the period. Wells Fargo & Company MN grew its stake in shares of KMG Chemicals by 2,650.2% in the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after buying an additional 284,581 shares during the period. Finally, Numeric Investors LLC grew its stake in shares of KMG Chemicals by 82.6% in the 2nd quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock valued at $12,743,000 after buying an additional 118,440 shares during the period. Institutional investors own 57.67% of the company’s stock.

In related news, major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $47.71, for a total transaction of $143,130.00. Following the completion of the transaction, the insider now owns 1,631,097 shares of the company’s stock, valued at approximately $77,819,637.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $47.62, for a total transaction of $285,720.00. Following the transaction, the insider now directly owns 1,631,097 shares of the company’s stock, valued at approximately $77,672,839.14. The disclosure for this sale can be found here. In the last three months, insiders sold 234,000 shares of company stock valued at $12,037,500. Corporate insiders own 6.10% of the company’s stock.

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Shares of KMG Chemicals, Inc. (NYSE:KMG) opened at $52.95 on Monday. KMG Chemicals, Inc. has a one year low of $29.13 and a one year high of $61.10. The company has a quick ratio of 1.64, a current ratio of 2.52 and a debt-to-equity ratio of 3.01. The firm has a market cap of $813.61, a P/E ratio of 23.33 and a beta of 0.56.

KMG Chemicals (NYSE:KMG) last posted its quarterly earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.16. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The business had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. sell-side analysts forecast that KMG Chemicals, Inc. will post 2.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Tuesday, October 10th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. KMG Chemicals’s dividend payout ratio (DPR) is 6.25%.

Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.

About KMG Chemicals

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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