KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 9,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $49.49, for a total value of $445,410.00. Following the completion of the transaction, the insider now owns 1,655,097 shares in the company, valued at approximately $81,910,750.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 up 1.42% during midday trading on Friday, hitting $47.72. The stock had a trading volume of 51,705 shares. The firm has a 50 day moving average price of $49.94 and a 200 day moving average price of $47.27. The stock has a market cap of $567.34 million, a PE ratio of 26.18 and a beta of 0.58. KMG Chemicals, Inc. has a one year low of $25.87 and a one year high of $61.10.
KMG Chemicals (NYSE:KMG) last released its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The business had revenue of $81.60 million for the quarter, compared to the consensus estimate of $79.78 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that KMG Chemicals, Inc. will post $2.09 earnings per share for the current fiscal year.
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Several equities analysts have issued reports on the company. Zacks Investment Research lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, Gabelli upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Monday, May 1st.
A number of large investors have recently added to or reduced their stakes in KMG. Creative Planning purchased a new stake in KMG Chemicals during the second quarter worth $105,000. Legal & General Group Plc increased its stake in KMG Chemicals by 23.2% in the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 414 shares during the period. Oppenheimer Asset Management Inc. increased its stake in KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 981 shares during the period. Russell Investments Group Ltd. increased 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 worth $160,000 after buying an additional 778 shares during the period. Finally, AXA purchased a new stake in KMG Chemicals during the first quarter worth $208,000. 72.76% of the stock is currently owned by institutional investors and hedge funds.
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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