KMG Chemicals, Inc. (NYSE:KMG) Major Shareholder Sells $448,380.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $49.82, for a total transaction of $448,380.00. Following the completion of the sale, the insider now directly owns 1,715,097 shares of the company’s stock, valued at approximately $85,446,132.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (KMG) opened at 49.82 on Monday. KMG Chemicals, Inc. has a 12 month low of $25.87 and a 12 month high of $61.10. The company’s 50 day moving average is $49.82 and its 200-day moving average is $46.44. The company has a market cap of $592.31 million, a P/E ratio of 27.33 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The business had revenue of $81.60 million during the quarter, compared to analysts’ expectations of $79.78 million. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. 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 KMG shares. Gabelli raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. BidaskClub raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th.
Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted 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 period. Driehaus Capital Management LLC purchased a new stake in shares of KMG Chemicals during the first quarter worth about $3,436,000. ClariVest Asset Management LLC purchased a new stake in shares of KMG Chemicals during the second quarter worth about $2,604,000. Bank of America Corp DE boosted 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 period. Finally, Renaissance Technologies LLC boosted its stake in shares of KMG Chemicals by 14.4% in the fourth quarter. Renaissance Technologies LLC now owns 360,200 shares of the specialty chemicals company’s stock worth $14,008,000 after buying an additional 45,300 shares during the period. Institutional investors and hedge funds own 71.89% 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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