Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 9,000 Shares of Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $52.39, for a total transaction of $471,510.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) traded down $1.90 during midday trading on Wednesday, reaching $52.44. 121,100 shares of the company traded hands, compared to its average volume of 100,334. KMG Chemicals, Inc. has a twelve month low of $30.90 and a twelve month high of $61.10. The company has a current ratio of 2.52, a quick ratio of 1.64 and a debt-to-equity ratio of 3.01. The firm has a market cap of $834.97, a P/E ratio of 23.94 and a beta of 0.56.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.16. The firm had revenue of $96.26 million for the quarter, compared to the consensus estimate of $96.00 million. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. KMG Chemicals’s quarterly revenue was up 27.8% compared to the same quarter last year. sell-side analysts anticipate that KMG Chemicals, Inc. will post 2.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, October 6th. KMG Chemicals’s dividend payout ratio is 6.25%.
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KMG has been the subject of several research reports. BidaskClub downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st.
A number of institutional investors and hedge funds have recently bought and sold shares of KMG. American International Group Inc. boosted its holdings in 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 during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in KMG Chemicals by 13.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 37,960 shares of the specialty chemicals company’s stock worth $1,749,000 after acquiring an additional 4,568 shares during the last quarter. Vanguard Group Inc. boosted its holdings in KMG Chemicals by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 341,457 shares of the specialty chemicals company’s stock worth $15,731,000 after acquiring an additional 19,856 shares during the last quarter. Geode Capital Management LLC boosted its holdings in KMG Chemicals by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 74,167 shares of the specialty chemicals company’s stock worth $3,415,000 after acquiring an additional 1,878 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in KMG Chemicals by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 565,154 shares of the specialty chemicals company’s stock worth $26,036,000 after acquiring an additional 25,689 shares during the last quarter. 57.67% of the stock is currently owned by hedge funds and other institutional investors.
KMG Chemicals Company Profile
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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