Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $158,370.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $52.79, for a total value of $158,370.00. Following the sale, the insider now owns 1,463,097 shares in the company, valued at $77,236,890.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (NYSE KMG) opened at $52.95 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.52 and a quick ratio of 1.64. KMG Chemicals, Inc. has a 12-month low of $29.13 and a 12-month high of $61.10. The stock has a market capitalization of $808.08, a price-to-earnings ratio of 23.17 and a beta of 0.56.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.16. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. The business had revenue of $96.26 million for the quarter, compared to the consensus estimate of $96.00 million. KMG Chemicals’s quarterly revenue was up 27.8% compared to the same quarter last year. sell-side analysts anticipate that KMG Chemicals, Inc. will post 2.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.12 annualized dividend and a yield of 0.23%. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.25%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in KMG Chemicals by 5.8% during the third quarter. Wells Fargo & Company MN now owns 312,563 shares of the specialty chemicals company’s stock worth $17,154,000 after buying an additional 17,244 shares during the period. Cadence Capital Management LLC lifted its position in KMG Chemicals by 37.3% during the third quarter. Cadence Capital Management LLC now owns 32,319 shares of the specialty chemicals company’s stock worth $1,774,000 after buying an additional 8,788 shares during the period. JPMorgan Chase & Co. purchased a new position in KMG Chemicals during the third quarter worth about $1,431,000. Virginia Retirement Systems ET AL purchased a new position in KMG Chemicals during the third quarter worth about $763,000. Finally, EAM Investors LLC lifted its position in KMG Chemicals by 4.9% during the third quarter. EAM Investors LLC now owns 76,118 shares of the specialty chemicals company’s stock worth $4,177,000 after buying an additional 3,521 shares during the period. Hedge funds and other institutional investors own 58.44% of the company’s stock.
A number of analysts have commented on the company. Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub downgraded KMG Chemicals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th.
KMG Chemicals Company 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.
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