KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 9,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $48.13, for a total transaction of $433,170.00. Following the transaction, the insider now directly owns 1,595,097 shares of the company’s stock, valued at approximately $76,772,018.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE KMG) traded up 0.15% during midday trading on Thursday, reaching $48.30. 70,036 shares of the company’s stock were exchanged. The company has a market cap of $574.24 million, a price-to-earnings ratio of 26.49 and a beta of 0.59. KMG Chemicals, Inc. has a 12-month low of $25.87 and a 12-month high of $61.10. The firm has a 50-day moving average price of $49.24 and a 200 day moving average price of $48.35.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data 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 net margin of 7.05% and a return on equity of 15.66%. The business had revenue of $81.60 million during the quarter, compared to analyst estimates of $79.78 million. During the same period in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that KMG Chemicals, Inc. will post $2.09 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of KMG. Teachers Advisors LLC raised its holdings in KMG Chemicals by 45.6% in the 4th quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock worth $785,000 after purchasing an additional 6,322 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in KMG Chemicals by 28.8% in the 1st quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 778 shares in the last quarter. Wells Fargo & Company MN raised its holdings in KMG Chemicals by 6.1% in the 1st quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock worth $494,000 after purchasing an additional 615 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in KMG Chemicals in the 1st quarter worth $209,000. Finally, American Century Companies Inc. raised its holdings in KMG Chemicals by 69.5% in the 1st quarter. American Century Companies Inc. now owns 36,153 shares of the specialty chemicals company’s stock worth $1,666,000 after purchasing an additional 14,823 shares in the last quarter. Institutional investors and hedge funds own 73.72% of the company’s stock.
KMG has been the subject of a number of research reports. BidaskClub cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of 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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