KMG Chemicals, Inc. (KMG) Position Cut by Bessemer Group Inc.

Bessemer Group Inc. trimmed its stake in KMG Chemicals, Inc. (NYSE:KMG) by 28.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,600 shares of the specialty chemicals company’s stock after selling 4,900 shares during the quarter. Bessemer Group Inc. owned about 0.08% of KMG Chemicals worth $691,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in KMG. Wells Fargo & Company MN grew its holdings in KMG Chemicals by 2,650.2% in the second quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after purchasing an additional 284,581 shares during the period. Acadian Asset Management LLC grew its holdings in KMG Chemicals by 108.7% in the second quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after purchasing an additional 209,577 shares during the period. Numeric Investors LLC grew its holdings in KMG Chemicals by 82.6% in the second quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock valued at $12,743,000 after purchasing an additional 118,440 shares during the period. EAM Investors LLC purchased a new stake in KMG Chemicals in the second quarter valued at approximately $3,533,000. Finally, AJO LP purchased a new stake in KMG Chemicals in the second quarter valued at approximately $2,689,000. Hedge funds and other institutional investors own 57.67% of the company’s stock.

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Shares of KMG Chemicals, Inc. (KMG) opened at $51.67 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.64 and a current ratio of 2.52. KMG Chemicals, Inc. has a 52 week low of $31.46 and a 52 week high of $61.10. The stock has a market cap of $781.96, a P/E ratio of 22.42 and a beta of 0.56.

KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $96.26 million during the quarter, compared to the consensus estimate of $96.00 million. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. sell-side analysts predict that KMG Chemicals, Inc. will post 2.77 EPS for the current year.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.83, for a total transaction of $657,960.00. Following the completion of the sale, the insider now directly owns 1,499,097 shares in the company, valued at $82,195,488.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David L. Hatcher sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.40, for a total transaction of $426,600.00. Following the sale, the insider now owns 1,625,097 shares of the company’s stock, valued at $77,029,597.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 231,000 shares of company stock valued at $11,959,590. 6.10% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of KMG Chemicals from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. BidaskClub downgraded 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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