KMG Chemicals, Inc. (KMG) Major Shareholder Sells $285,300.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $47.55, for a total value of $285,300.00. Following the transaction, the insider now directly owns 1,616,097 shares of the company’s stock, valued at $76,845,412.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 47.82 on Monday. The stock has a market cap of $568.53 million, a P/E ratio of 26.23 and a beta of 0.58. KMG Chemicals, Inc. has a 52-week low of $25.87 and a 52-week high of $61.10. The firm’s 50 day moving average price is $49.78 and its 200 day moving average price is $47.63.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The company had revenue of $81.60 million for the quarter, compared to analyst estimates 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 was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. On average, analysts expect that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
Several equities analysts have weighed in on KMG shares. Gabelli raised KMG Chemicals from a “hold” rating to a “buy” rating in a report on Monday, May 1st. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.
A number of hedge funds have recently added to or reduced their stakes in the stock. Alambic Investment Management L.P. raised its stake in KMG Chemicals by 36.1% in the first quarter. Alambic Investment Management L.P. now owns 27,866 shares of the specialty chemicals company’s stock valued at $1,284,000 after buying an additional 7,397 shares in the last quarter. Oxford Asset Management purchased a new stake in KMG Chemicals during the first quarter valued at approximately $374,000. Hillsdale Investment Management Inc. raised its stake in KMG Chemicals by 458.3% in the first quarter. Hillsdale Investment Management Inc. now owns 26,800 shares of the specialty chemicals company’s stock valued at $1,235,000 after buying an additional 22,000 shares in the last quarter. Trexquant Investment LP raised its stake in KMG Chemicals by 17.6% in the first quarter. Trexquant Investment LP now owns 8,053 shares of the specialty chemicals company’s stock valued at $371,000 after buying an additional 1,208 shares in the last quarter. Finally, TFS Capital LLC raised its stake in KMG Chemicals by 27.0% in the first quarter. TFS Capital LLC now owns 8,049 shares of the specialty chemicals company’s stock valued at $371,000 after buying an additional 1,710 shares in the last quarter. Institutional investors own 73.72% of the company’s stock.
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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