KMG Chemicals, Inc. (NYSE: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 Monday, August 7th. The shares were sold at an average price of $49.78, for a total transaction of $149,340.00. Following the transaction, the insider now owns 1,655,097 shares in the company, valued at approximately $82,390,728.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (KMG) traded down 0.87% during trading on Wednesday, hitting $48.92. 66,060 shares of the stock traded hands. The company has a 50 day moving average price of $49.75 and a 200 day moving average price of $46.51. KMG Chemicals, Inc. has a 12 month low of $25.87 and a 12 month high of $61.10. The firm has a market cap of $581.61 million, a price-to-earnings ratio of 26.83 and a beta of 0.58.
KMG Chemicals (NYSE:KMG) last announced its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. The firm had revenue of $81.60 million for the quarter, compared to analyst estimates of $79.78 million. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Analysts anticipate that KMG Chemicals, Inc. will post $2.09 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Gabelli upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Monday, May 1st.
Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of 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 worth $19,582,000 after buying an additional 209,577 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of KMG Chemicals during the first quarter worth $3,436,000. ClariVest Asset Management LLC bought a new stake in shares of KMG Chemicals during the second quarter worth $2,604,000. Bank of America Corp DE raised its stake in shares of KMG Chemicals by 323.3% in the first quarter. Bank of America Corp DE now owns 61,220 shares of the specialty chemicals company’s stock worth $2,820,000 after buying an additional 46,756 shares during the last quarter. Finally, Redwood Investments LLC bought a new stake in shares of KMG Chemicals during the second quarter worth $2,129,000. 71.23% of the stock is currently owned by hedge funds and other institutional investors.
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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