KMG Chemicals, Inc. (KMG) Major Shareholder Sells $290,040.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of KMG Chemicals stock in a transaction on Friday, September 1st. The shares were sold at an average price of $48.34, for a total value of $290,040.00. Following the transaction, the insider now owns 1,601,097 shares of the company’s stock, valued at approximately $77,397,028.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) opened at 49.00 on Monday. KMG Chemicals, Inc. has a 52 week low of $25.87 and a 52 week high of $61.10. The stock has a market cap of $582.56 million, a PE ratio of 26.88 and a beta of 0.59. The firm’s 50-day moving average price is $49.50 and its 200-day moving average price is $48.02.
KMG Chemicals (NYSE:KMG) last posted its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $81.60 million during the quarter, compared to analyst estimates of $79.78 million. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. KMG Chemicals’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Equities 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 recent research reports. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research cut KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
A number of institutional investors have recently bought and sold shares of KMG. Wells Fargo & Company MN lifted its holdings in KMG Chemicals by 2,650.2% during 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 period. Acadian Asset Management LLC lifted its holdings in KMG Chemicals by 108.7% during 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 period. Numeric Investors LLC lifted its holdings in KMG Chemicals by 82.6% during the second quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock worth $12,743,000 after buying an additional 118,440 shares during the period. Driehaus Capital Management LLC purchased a new stake in KMG Chemicals during the first quarter worth $3,436,000. Finally, EAM Investors LLC purchased a new stake in KMG Chemicals during the second quarter worth $3,533,000. 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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