KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 6,000 Shares

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $54.34, for a total value of $326,040.00. Following the completion of the sale, the insider now directly owns 1,412,097 shares of the company’s stock, valued at $76,733,350.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of KMG Chemicals, Inc. (NYSE:KMG) traded down $0.78 during midday trading on Friday, hitting $53.61. The stock had a trading volume of 107,211 shares, compared to its average volume of 101,687. The stock has a market capitalization of $854.48, a PE ratio of 24.50 and a beta of 0.56. KMG Chemicals, Inc. has a one year low of $32.05 and a one year high of $61.10. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.64 and a current ratio of 2.52.

KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.16. The company had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. KMG Chemicals’s revenue for the quarter was up 27.8% on a year-over-year basis. analysts predict that KMG Chemicals, Inc. will post 2.76 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in KMG. Wells Fargo & Company MN grew its position in shares of KMG Chemicals by 2,650.2% in the second quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after purchasing an additional 284,581 shares in the last quarter. Numeric Investors LLC grew its position in KMG Chemicals by 82.6% during the second quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock worth $12,743,000 after buying an additional 118,440 shares in the last quarter. Ameriprise Financial Inc. grew its position in KMG Chemicals by 184.8% during the third quarter. Ameriprise Financial Inc. now owns 117,193 shares of the specialty chemicals company’s stock worth $6,432,000 after buying an additional 76,047 shares in the last quarter. EAM Investors LLC purchased a new position in KMG Chemicals during the second quarter worth about $3,533,000. Finally, AJO LP purchased a new position in KMG Chemicals during the second quarter worth about $2,689,000. Institutional investors own 56.24% of the company’s stock.

KMG has been the subject of several recent research reports. Zacks Investment Research cut KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. KeyCorp initiated coverage on KMG Chemicals in a research report on Tuesday, November 21st. They issued an “overweight” rating and a $63.00 price target for the company. Finally, BidaskClub cut KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd.

COPYRIGHT VIOLATION WARNING: This report was first reported by American Banking News and is owned by of American Banking News. If you are viewing this report on another domain, it was copied illegally and reposted in violation of United States & international trademark and copyright laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/12/01/kmg-chemicals-inc-kmg-major-shareholder-david-l-hatcher-sells-6000-shares.html.

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.

Insider Buying and Selling by Quarter for KMG Chemicals (NYSE:KMG)

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.

Leave a Reply