KMG Chemicals, Inc. (KMG) Major Shareholder Sells $285,720.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $47.62, for a total transaction of $285,720.00. Following the sale, the insider now owns 1,631,097 shares of the company’s stock, valued at $77,672,839.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (NYSE KMG) opened at 47.72 on Monday. The firm has a market capitalization of $567.34 million, a PE ratio of 26.18 and a beta of 0.58. The company’s 50-day moving average is $49.94 and its 200 day moving average is $47.27. KMG Chemicals, Inc. has a 52-week low of $25.87 and a 52-week high of $61.10.
KMG Chemicals (NYSE:KMG) last announced its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.06. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The firm had revenue of $81.60 million during the quarter, compared to the consensus estimate of $79.78 million. During the same quarter in the previous year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that KMG Chemicals, Inc. will post $2.09 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of KMG Chemicals during the second quarter valued at $465,000. The Manufacturers Life Insurance Company increased its position in shares of KMG Chemicals by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock valued at $351,000 after buying an additional 112 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of KMG Chemicals during the second quarter valued at $242,000. State Street Corp increased its position in shares of KMG Chemicals by 15.4% in the second quarter. State Street Corp now owns 162,609 shares of the specialty chemicals company’s stock valued at $7,916,000 after buying an additional 21,712 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of KMG Chemicals by 16.0% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 62,353 shares of the specialty chemicals company’s stock valued at $3,034,000 after buying an additional 8,600 shares during the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on KMG. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub cut shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, Gabelli upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st.
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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