KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 3,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $47.18, for a total transaction of $141,540.00. Following the completion of the transaction, the insider now directly owns 1,610,097 shares in the company, valued at $75,964,376.46. The sale was disclosed in a legal filing with the SEC, which is accessible through 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. (KMG) traded down 1.15% during midday trading on Thursday, hitting $48.16. 29,800 shares of the company’s stock traded hands. The stock has a market cap of $572.57 million, a P/E ratio of 26.42 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 company has a 50 day moving average of $49.78 and a 200 day moving average of $47.63.
KMG Chemicals (NYSE:KMG) last released 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. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The firm had revenue of $81.60 million for the quarter, compared to analyst estimates of $79.78 million. During the same period in the previous year, the company earned $0.41 earnings per share. KMG Chemicals’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that KMG Chemicals, Inc. will post $2.09 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in KMG. Creative Planning bought a new position in KMG Chemicals during the second quarter worth $105,000. Legal & General Group Plc raised its position 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. raised its position 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. raised its position 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 bought a new position in KMG Chemicals during the first quarter worth $208,000. Institutional investors and hedge funds own 73.72% of the company’s stock.
KMG has been the topic of several recent research reports. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.
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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