KMG Chemicals, Inc. (KMG) Major Shareholder Sells $995,550.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 15,000 shares of the stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $66.37, for a total transaction of $995,550.00. Following the transaction, the insider now owns 1,301,097 shares in the company, valued at approximately $86,353,807.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major 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. (NYSE:KMG) opened at $64.47 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.92 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1,000.00, a P/E ratio of 33.75 and a beta of 0.53. KMG Chemicals, Inc. has a 52-week low of $36.29 and a 52-week high of $68.13.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.20. The business had revenue of $110.70 million for the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The business’s quarterly revenue was up 44.7% compared to the same quarter last year. analysts forecast that KMG Chemicals, Inc. will post 3.17 earnings per share for the current fiscal year.
A number of research analysts have issued reports on KMG shares. Zacks Investment Research lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. KeyCorp started coverage on shares of KMG Chemicals in a research report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 target price on the stock. Finally, ValuEngine lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $70.00.
Several hedge funds and other institutional investors have recently bought and sold shares of KMG. Russell Investments Group Ltd. boosted its position in shares of KMG Chemicals by 894.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 34,609 shares of the specialty chemicals company’s stock worth $1,685,000 after acquiring an additional 31,128 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of KMG Chemicals by 29.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 18,400 shares of the specialty chemicals company’s stock worth $896,000 after acquiring an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of KMG Chemicals by 46.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 82,928 shares of the specialty chemicals company’s stock worth $4,036,000 after acquiring an additional 26,367 shares in the last quarter. Legal & General Group Plc boosted its position in shares of 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 acquiring an additional 414 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of KMG Chemicals by 167.6% during the 2nd quarter. Federated Investors Inc. PA now owns 32,445 shares of the specialty chemicals company’s stock worth $1,579,000 after acquiring an additional 20,321 shares in the last quarter. Institutional investors and hedge funds own 56.17% 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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