KMG Chemicals, Inc. (KMG) Major Shareholder Sells $145,950.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $48.65, for a total transaction of $145,950.00. Following the completion of the transaction, the insider now directly owns 1,601,097 shares of the company’s stock, valued at approximately $77,893,369.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE KMG) opened at 49.00 on Monday. The company’s 50 day moving average is $49.50 and its 200 day moving average is $48.02. The stock has a market cap of $582.56 million, a PE ratio of 26.88 and a beta of 0.59. KMG Chemicals, Inc. has a one year low of $25.87 and a one year high of $61.10.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.06. The firm had revenue of $81.60 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. On average, equities research analysts expect that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
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A number of research analysts have issued reports on KMG shares. BidaskClub raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.
Large investors have recently modified their holdings of the stock. Creative Planning acquired a new stake in KMG Chemicals during the 2nd quarter worth $105,000. Legal & General Group Plc boosted its stake in KMG Chemicals by 23.2% during the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 414 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in KMG Chemicals by 59.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after purchasing an additional 981 shares during the period. Russell Investments Group Ltd. boosted its stake in KMG Chemicals by 28.8% during the 1st quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 778 shares during the period. Finally, AXA acquired a new stake in KMG Chemicals during the 1st quarter worth $208,000. Hedge funds and other 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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