KMG Chemicals, Inc. (KMG) Stake Decreased by US Bancorp DE
US Bancorp DE decreased its stake in KMG Chemicals, Inc. (NYSE:KMG) by 17.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,544 shares of the specialty chemicals company’s stock after selling 3,890 shares during the period. US Bancorp DE’s holdings in KMG Chemicals were worth $903,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Creative Planning purchased a new stake in KMG Chemicals during the second quarter valued at $105,000. Russell Investments Group Ltd. boosted its stake in 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. AXA purchased a new stake in KMG Chemicals during the first quarter valued at $208,000. State Board of Administration of Florida Retirement System purchased a new stake in KMG Chemicals during the first quarter valued at $209,000. Finally, Highbridge Capital Management LLC purchased a new stake in KMG Chemicals during the first quarter valued at $230,000. Institutional investors own 71.23% of the company’s stock.
KMG Chemicals, Inc. (KMG) traded down 0.60% during midday trading on Friday, reaching $47.71. 73,135 shares of the company’s stock were exchanged. KMG Chemicals, Inc. has a 12-month low of $25.87 and a 12-month high of $61.10. The firm has a 50-day moving average price of $49.89 and a 200 day moving average price of $46.82. The company has a market cap of $567.22 million, a price-to-earnings ratio of 26.17 and a beta of 0.58.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data 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 business had revenue of $81.60 million during 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, analysts expect that KMG Chemicals, Inc. will post $2.09 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. BidaskClub cut shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research 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.
In other news, major shareholder David L. Hatcher sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $49.67, for a total value of $149,010.00. Following the sale, the insider now directly owns 1,655,097 shares of the company’s stock, valued at approximately $82,208,667.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $56.68, for a total transaction of $510,120.00. Following the completion of the sale, the insider now directly owns 1,787,097 shares in the company, valued at $101,292,657.96. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $8,916,090 over the last ninety days. Insiders own 6.90% 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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