David L. Hatcher Sells 45,000 Shares of KMG Chemicals, Inc. (KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $64.95, for a total value of $2,922,750.00. Following the completion of the transaction, the insider now directly owns 1,226,097 shares of the company’s stock, valued at $79,635,000.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE KMG) opened at $65.76 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.92 and a current ratio of 2.87. The firm has a market capitalization of $1,010.00, a P/E ratio of 34.43 and a beta of 0.53. KMG Chemicals, Inc. has a 52 week low of $36.29 and a 52 week high of $68.13.
KMG Chemicals (NYSE:KMG) last announced its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.20. The business had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. KMG Chemicals’s revenue was up 44.7% on a year-over-year basis. research analysts anticipate that KMG Chemicals, Inc. will post 3.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 22nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend was Thursday, December 21st. KMG Chemicals’s payout ratio is 6.28%.
Several hedge funds have recently made changes to their positions in KMG. Dimensional Fund Advisors LP increased its position in shares of KMG Chemicals by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock worth $29,609,000 after purchasing an additional 43,214 shares in the last quarter. Vanguard Group Inc. increased its position in shares of KMG Chemicals by 10.2% during the second quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock worth $18,316,000 after purchasing an additional 34,875 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of 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 purchasing an additional 17,244 shares in the last quarter. Numeric Investors LLC increased its position in shares of KMG Chemicals by 82.6% during the second quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock worth $12,743,000 after purchasing an additional 118,440 shares in the last quarter. Finally, State Street Corp increased its position in shares of KMG Chemicals by 15.4% during the second quarter. State Street Corp now owns 162,609 shares of the specialty chemicals company’s stock worth $7,916,000 after purchasing an additional 21,712 shares in the last quarter. 56.17% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price for the company in a research note on Thursday, December 14th. KeyCorp reaffirmed a “buy” rating and set a $70.00 target price (up from $63.00) on shares of KMG Chemicals in a research note on Wednesday, December 13th. Finally, ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $70.00.
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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