KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 30,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 30,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $64.84, for a total value of $1,945,200.00. Following the sale, the insider now directly owns 1,151,097 shares of the company’s stock, valued at approximately $74,637,129.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (KMG) traded up $0.16 during mid-day trading on Wednesday, reaching $64.57. The company’s stock had a trading volume of 144,497 shares, compared to its average volume of 213,199. The company has a quick ratio of 1.92, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. The company has a market cap of $992.59, a PE ratio of 33.81 and a beta of 0.53. KMG Chemicals, Inc. has a 1 year low of $36.29 and a 1 year high of $68.13.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. The firm had revenue of $110.70 million for the quarter, compared to analysts’ expectations of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The business’s revenue was up 44.7% compared to the same quarter last year. equities research analysts expect that KMG Chemicals, Inc. will post 3.17 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc increased its position in KMG Chemicals by 23.2% during the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 414 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after purchasing an additional 981 shares during the period. Victory Capital Management Inc. bought a new position in shares of KMG Chemicals in the third quarter worth $155,000. Hodges Capital Management Inc. bought a new position in shares of KMG Chemicals in the third quarter worth $221,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of KMG Chemicals in the second quarter worth $242,000. Hedge funds and other institutional investors own 56.17% of the company’s stock.
Several research analysts have weighed in on KMG shares. KeyCorp reiterated a “buy” rating and set a $70.00 price objective (up previously from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. ValuEngine cut KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research cut KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.00.
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.
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