David L. Hatcher Sells 9,000 Shares of KMG Chemicals, Inc. (KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $48.13, for a total value of $433,170.00. Following the completion of the transaction, the insider now owns 1,595,097 shares in the company, valued at approximately $76,772,018.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE KMG) opened at 47.79 on Friday. KMG Chemicals, Inc. has a 12-month low of $25.87 and a 12-month high of $61.10. The stock has a 50 day moving average price of $49.02 and a 200-day moving average price of $48.34. The stock has a market cap of $568.18 million, a P/E ratio of 26.22 and a beta of 0.59.
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, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The business had revenue of $81.60 million for the quarter, compared to analysts’ expectations of $79.78 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that KMG Chemicals, Inc. will post $2.09 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the stock. Creative Planning acquired a new position in shares of KMG Chemicals in the second quarter worth about $105,000. Legal & General Group Plc lifted its stake in shares of 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 acquiring an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of 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 acquiring an additional 981 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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 acquiring an additional 778 shares in the last quarter. Finally, AXA acquired a new position in shares of KMG Chemicals in the first quarter worth about $208,000. Institutional investors and hedge funds own 73.72% of the company’s stock.
KMG has been the topic of a number of recent analyst reports. BidaskClub downgraded KMG Chemicals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.
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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