KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 6,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $56.00, for a total transaction of $336,000.00. Following the sale, the insider now directly owns 1,778,097 shares of the company’s stock, valued at approximately $99,573,432. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) traded down 0.16% during midday trading on Monday, hitting $56.37. 30,461 shares of the stock traded hands. The company has a market cap of $670.07 million, a price-to-earnings ratio of 30.45 and a beta of 0.63. KMG Chemicals, Inc. has a 52-week low of $20.85 and a 52-week high of $57.56. The firm’s 50-day moving average is $49.92 and its 200-day moving average is $40.13.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Monday, March 13th. The specialty chemicals company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The firm had revenue of $79.10 million during the quarter, compared to analyst estimates of $73.70 million. KMG Chemicals had a net margin of 6.66% and a return on equity of 14.25%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts predict that KMG Chemicals, Inc. will post $2.03 EPS for the current year.
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Separately, Gabelli raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st.
Several hedge funds have recently modified their holdings of KMG. Brown Advisory Inc. raised its stake in shares of KMG Chemicals by 3.6% in the fourth quarter. Brown Advisory Inc. now owns 346,970 shares of the specialty chemicals company’s stock worth $13,495,000 after buying an additional 11,907 shares in the last quarter. Menta Capital LLC raised its stake in shares of KMG Chemicals by 10.9% in the fourth quarter. Menta Capital LLC now owns 69,803 shares of the specialty chemicals company’s stock worth $2,715,000 after buying an additional 6,868 shares in the last quarter. PEAK6 Investments L.P. bought a new stake in shares of KMG Chemicals during the fourth quarter worth about $494,000. Cigna Investments Inc. New bought a new stake in shares of KMG Chemicals during the fourth quarter worth about $1,212,000. Finally, GSA Capital Partners LLP raised its stake in shares of KMG Chemicals by 5.7% in the fourth quarter. GSA Capital Partners LLP now owns 51,689 shares of the specialty chemicals company’s stock worth $2,010,000 after buying an additional 2,788 shares in the last quarter. 68.39% of the stock is owned by hedge funds and other institutional investors.
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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