ClariVest Asset Management LLC Lowers Stake in KMG Chemicals, Inc. (KMG)

ClariVest Asset Management LLC decreased its holdings in KMG Chemicals, Inc. (NYSE:KMG) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,031 shares of the specialty chemicals company’s stock after selling 6,492 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.32% of KMG Chemicals worth $2,581,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB acquired a new position in KMG Chemicals in the second quarter valued at $1,465,000. PDT Partners LLC raised its holdings in shares of KMG Chemicals by 91.7% in the 2nd quarter. PDT Partners LLC now owns 22,807 shares of the specialty chemicals company’s stock worth $1,110,000 after acquiring an additional 10,907 shares during the last quarter. Federated Investors Inc. PA raised its holdings in shares of KMG Chemicals by 167.6% in the 2nd quarter. Federated Investors Inc. PA now owns 32,445 shares of the specialty chemicals company’s stock worth $1,579,000 after acquiring an additional 20,321 shares during the last quarter. American International Group Inc. raised its holdings in shares of KMG Chemicals by 7.0% in the 1st quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock worth $256,000 after acquiring an additional 365 shares during the last quarter. Finally, Bank of America Corp DE grew its position in KMG Chemicals by 323.3% in the 1st quarter. Bank of America Corp DE now owns 61,220 shares of the specialty chemicals company’s stock worth $2,820,000 after purchasing an additional 46,756 shares in the last quarter. 56.20% of the stock is currently owned by institutional investors.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $48.13, for a total value of $433,170.00. Following the sale, the insider now directly owns 1,595,097 shares in the company, valued at approximately $76,772,018.61. 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 3,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $53.65, for a total transaction of $160,950.00. Following the completion of the sale, the insider now owns 1,406,097 shares in the company, valued at $75,437,104.05. The disclosure for this sale can be found here. Insiders sold a total of 231,000 shares of company stock worth $12,206,040 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

KMG Chemicals, Inc. (KMG) traded down $0.87 on Wednesday, reaching $53.22. 96,761 shares of the company traded hands, compared to its average volume of 101,825. The company has a market cap of $823.60, a P/E ratio of 23.61 and a beta of 0.55. KMG Chemicals, Inc. has a 52 week low of $32.05 and a 52 week high of $61.10. 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 (NYSE:KMG) last released its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ 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 revenue for the quarter was up 27.8% on a year-over-year basis. equities analysts anticipate that KMG Chemicals, Inc. will post 2.76 earnings per share for the current year.

KMG has been the subject of a number of research reports. BidaskClub downgraded shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. KeyCorp began coverage on shares of KMG Chemicals in a report on Tuesday, November 21st. They issued an “overweight” rating and a $63.00 price objective for the company. Finally, ValuEngine downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $50.00.

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KMG Chemicals 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.

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

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