KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 3,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $51.36, for a total value of $154,080.00. Following the completion of the transaction, the insider now owns 1,700,097 shares of the company’s stock, valued at $87,316,981.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (KMG) opened at 51.66 on Friday. The company’s 50-day moving average price is $51.10 and its 200 day moving average price is $45.69. KMG Chemicals, Inc. has a one year low of $25.87 and a one year high of $61.10. The stock has a market capitalization of $614.19 million, a PE ratio of 28.34 and a beta of 0.57.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The company had revenue of $81.60 million during the quarter, compared to analyst estimates of $79.78 million. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. Analysts anticipate that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Tuesday, June 13th were given a $0.03 dividend. The ex-dividend date was Friday, June 9th. This represents a $0.12 annualized dividend and a yield of 0.23%. KMG Chemicals’s dividend payout ratio is currently 6.67%.
A number of equities analysts have recently issued reports on the company. Gabelli upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a report on Monday, May 1st. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in KMG Chemicals by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 565,154 shares of the specialty chemicals company’s stock valued at $26,036,000 after buying an additional 25,689 shares in the last quarter. Renaissance Technologies LLC raised its position in KMG Chemicals by 5.9% in the first quarter. Renaissance Technologies LLC now owns 381,500 shares of the specialty chemicals company’s stock valued at $17,576,000 after buying an additional 21,300 shares in the last quarter. Vanguard Group Inc. raised its position in KMG Chemicals by 6.2% in the first quarter. Vanguard Group Inc. now owns 341,457 shares of the specialty chemicals company’s stock valued at $15,731,000 after buying an additional 19,856 shares in the last quarter. Acadian Asset Management LLC raised its position in KMG Chemicals by 24.3% in the first quarter. Acadian Asset Management LLC now owns 192,779 shares of the specialty chemicals company’s stock valued at $8,881,000 after buying an additional 37,679 shares in the last quarter. Finally, State Street Corp raised its position in KMG Chemicals by 3.0% in the fourth quarter. State Street Corp now owns 139,844 shares of the specialty chemicals company’s stock valued at $5,439,000 after buying an additional 4,038 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.
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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