KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 3,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $55.37, for a total transaction of $166,110.00. Following the completion of the transaction, the insider now directly owns 1,499,097 shares in the company, valued at $83,005,000.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (KMG) traded up 0.11% during mid-day trading on Tuesday, hitting $54.92. 199,218 shares of the company traded hands. KMG Chemicals, Inc. has a one year low of $26.33 and a one year high of $61.10. The company’s 50-day moving average price is $52.52 and its 200 day moving average price is $51.27. The company has a market capitalization of $653.88 million, a price-to-earnings ratio of 28.60 and a beta of 0.62.
KMG Chemicals (NYSE:KMG) last posted its earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.16. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. The business had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. KMG Chemicals’s revenue was up 27.8% on a year-over-year basis. On average, analysts anticipate that KMG Chemicals, Inc. will post $3.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were paid a dividend of $0.03 per share. The ex-dividend date was Friday, October 6th. This represents a $0.12 dividend on an annualized basis and a yield of 0.22%. KMG Chemicals’s payout ratio is 6.25%.
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Several research analysts have recently weighed in on the stock. BidaskClub downgraded shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB bought a new stake in KMG Chemicals during the 2nd quarter worth approximately $1,465,000. PDT Partners LLC grew its stake in shares of KMG Chemicals by 91.7% during the 2nd quarter. PDT Partners LLC now owns 22,807 shares of the specialty chemicals company’s stock worth $1,110,000 after acquiring an additional 10,907 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of KMG Chemicals during the 1st quarter worth approximately $3,436,000. Federated Investors Inc. PA grew its stake 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. Finally, American International Group Inc. grew its stake in shares of KMG Chemicals by 7.0% during the 1st quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock worth $256,000 after acquiring an additional 365 shares in the last quarter. 73.30% of the stock is owned by institutional investors and hedge funds.
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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