Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 3,000 Shares of Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $55.09, for a total transaction of $165,270.00. Following the completion of the sale, the insider now owns 1,478,097 shares of the company’s stock, valued at approximately $81,428,363.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. The business had revenue of $96.26 million during the quarter, compared to analyst estimates of $96.00 million. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The company’s revenue for the quarter was up 27.8% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were issued a $0.03 dividend. 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 dividend payout ratio (DPR) is presently 6.25%.
Several equities research analysts have weighed in on KMG shares. BidaskClub upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.
A number of hedge funds and other institutional investors have recently modified their holdings of KMG. Wells Fargo & Company MN raised its holdings in KMG Chemicals by 2,650.2% in the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after buying an additional 284,581 shares during the last quarter. Acadian Asset Management LLC increased its position in KMG Chemicals by 108.7% during the 2nd quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after purchasing an additional 209,577 shares during the period. Numeric Investors LLC increased its position in KMG Chemicals by 82.6% during the 2nd quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock valued at $12,743,000 after purchasing an additional 118,440 shares during the period. EAM Investors LLC acquired a new stake in KMG Chemicals during the 2nd quarter valued at approximately $3,533,000. Finally, AJO LP acquired a new stake in KMG Chemicals during the 2nd quarter valued at approximately $2,689,000. Institutional investors and hedge funds own 58.43% of the company’s stock.
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.
Receive News & Ratings for KMG Chemicals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KMG Chemicals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.