KMG Chemicals, Inc. (KMG) Major Shareholder Sells $154,080.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $51.36, for a total value of $154,080.00. Following the completion of the sale, the insider now directly owns 1,700,097 shares of the company’s stock, valued at approximately $87,316,981.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large 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. (KMG) traded up 0.08% during trading on Wednesday, hitting $51.88. The stock had a trading volume of 54,124 shares. The stock has a market cap of $616.80 million, a price-to-earnings ratio of 28.46 and a beta of 0.57. The stock has a 50 day moving average price of $51.35 and a 200-day moving average price of $45.60. KMG Chemicals, Inc. has a 12 month low of $25.87 and a 12 month high of $61.10.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $79.78 million. During the same period last year, the business posted $0.41 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Tuesday, June 13th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, June 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. KMG Chemicals’s payout ratio is 6.67%.
Hedge funds have recently bought and sold shares of the company. Creative Planning acquired a new stake in KMG Chemicals during the second quarter worth $105,000. Russell Investments Group Ltd. boosted 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 buying an additional 778 shares in the last quarter. AXA purchased a new stake in shares of KMG Chemicals during the first quarter worth approximately $208,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of KMG Chemicals during the first quarter worth approximately $209,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of KMG Chemicals during the first quarter worth approximately $230,000. 70.00% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. Gabelli upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th.
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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