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 dated Wednesday, December 6th. The stock was sold at an average price of $53.44, for a total transaction of $480,960.00. Following the completion of the sale, the insider now directly owns 1,406,097 shares in the company, valued at approximately $75,141,823.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 up $0.49 during midday trading on Wednesday, hitting $54.09. 88,200 shares of the stock traded hands, compared to its average volume of 101,847. KMG Chemicals, Inc. has a one year low of $32.05 and a one year 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 company has a market capitalization of $823.60, a price-to-earnings ratio of 23.61 and a beta of 0.55.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.16. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The company had revenue of $96.26 million for the quarter, compared to analyst estimates of $96.00 million. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. equities research analysts expect that KMG Chemicals, Inc. will post 2.76 earnings per share for the current fiscal year.
Several analysts have commented on KMG shares. KeyCorp started coverage on shares of KMG Chemicals in a research report on Tuesday, November 21st. They issued an “overweight” rating and a $63.00 price objective on the stock. Zacks Investment Research lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. ValuEngine lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. KMG Chemicals has an average rating of “Hold” and an average target price of $50.00.
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.