Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 9,000 Shares of Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $47.68, for a total value of $429,120.00. Following the completion of the transaction, the insider now owns 1,610,097 shares in the company, valued at $76,769,424.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) traded up 1.10% during trading on Wednesday, hitting $48.72. The stock had a trading volume of 52,235 shares. KMG Chemicals, Inc. has a 52-week low of $25.87 and a 52-week high of $61.10. The company has a 50-day moving average of $49.78 and a 200 day moving average of $47.63. The firm has a market cap of $579.23 million, a P/E ratio of 26.73 and a beta of 0.58.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. The company had revenue of $81.60 million during the quarter, compared to the consensus estimate of $79.78 million. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. KMG Chemicals’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. On average, equities research analysts predict that KMG Chemicals, Inc. will post $2.09 earnings per share for the current fiscal year.
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KMG has been the subject of a number of research reports. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research cut KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.
Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in KMG Chemicals by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock worth $29,609,000 after buying an additional 43,214 shares during the last quarter. Acadian Asset Management LLC increased its stake in 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 last quarter. Renaissance Technologies LLC increased its stake in KMG Chemicals by 5.9% in the first quarter. Renaissance Technologies LLC now owns 381,500 shares of the specialty chemicals company’s stock worth $17,576,000 after buying an additional 21,300 shares during the last quarter. Vanguard Group Inc. increased its stake in KMG Chemicals by 10.2% in the second quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock worth $18,316,000 after buying an additional 34,875 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in KMG Chemicals by 2,650.2% in the second quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock worth $14,373,000 after buying an additional 284,581 shares during the last quarter. Institutional investors own 73.72% 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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