David L. Hatcher Sells 6,000 Shares of KMG Chemicals, Inc. (KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of KMG Chemicals stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $47.85, for a total transaction of $287,100.00. Following the completion of the sale, the insider now owns 1,646,097 shares in the company, valued at $78,765,741.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large 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. (NYSE:KMG) traded down 0.71% during mid-day trading on Friday, reaching $47.66. 113,885 shares of the company traded hands. KMG Chemicals, Inc. has a 52-week low of $25.87 and a 52-week high of $61.10. The stock’s 50 day moving average is $49.89 and its 200 day moving average is $46.82. The stock has a market capitalization of $566.63 million, a PE ratio of 26.14 and a beta of 0.58.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The company had revenue of $81.60 million for the quarter, compared to the consensus estimate of $79.78 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts anticipate that KMG Chemicals, Inc. will post $2.09 earnings per share for the current year.
KMG has been the topic of several recent research reports. Gabelli upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. BidaskClub upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th.
Large investors have recently modified their holdings of the stock. Teachers Advisors LLC increased its stake in shares of KMG Chemicals by 45.6% in the fourth quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 6,322 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of KMG Chemicals during the first quarter valued at about $3,436,000. Prudential Financial Inc. bought a new position in shares of KMG Chemicals during the first quarter valued at about $1,784,000. Russell Investments Group Ltd. increased its position in shares of KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 778 shares during the period. Finally, Youngs Advisory Group Inc. increased its position in shares of KMG Chemicals by 1.8% in the first quarter. Youngs Advisory Group Inc. now owns 29,397 shares of the specialty chemicals company’s stock valued at $1,354,000 after buying an additional 508 shares during the period. Institutional investors own 71.23% 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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