KMG Chemicals, Inc. (KMG) Major Shareholder Sells $861,000.00 in Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 15,000 shares of KMG Chemicals stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $57.40, for a total value of $861,000.00. Following the completion of the transaction, the insider now owns 896,097 shares in the company, valued at $51,435,967.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

KMG Chemicals, Inc. (KMG) traded up $0.70 during trading on Monday, hitting $58.53. The stock had a trading volume of 80,108 shares, compared to its average volume of 146,155. 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 capitalization of $888.98, a price-to-earnings ratio of 30.64 and a beta of 0.35. KMG Chemicals, Inc. has a twelve month low of $36.41 and a twelve month high of $68.13.

KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The business had revenue of $110.70 million for the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals’s revenue for the quarter was up 44.7% on a year-over-year basis. analysts predict that KMG Chemicals, Inc. will post 3.17 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in KMG Chemicals by 44.5% during the fourth quarter. BlackRock Inc. now owns 836,301 shares of the specialty chemicals company’s stock worth $55,262,000 after buying an additional 257,589 shares in the last quarter. Wells Fargo & Company MN grew its position in KMG Chemicals by 110.6% during the fourth quarter. Wells Fargo & Company MN now owns 658,289 shares of the specialty chemicals company’s stock worth $43,500,000 after buying an additional 345,726 shares in the last quarter. Dimensional Fund Advisors LP grew its position in KMG Chemicals by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock worth $29,609,000 after buying an additional 43,214 shares in the last quarter. Vanguard Group Inc. grew its position in KMG Chemicals by 10.2% during the second quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock worth $18,316,000 after buying an additional 34,875 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in KMG Chemicals by 12,127.5% during the fourth quarter. Victory Capital Management Inc. now owns 345,549 shares of the specialty chemicals company’s stock worth $22,834,000 after buying an additional 342,723 shares in the last quarter. 58.26% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on KMG. Goldman Sachs Group began coverage on KMG Chemicals in a research note on Monday, January 22nd. They issued a “neutral” rating and a $73.00 price objective on the stock. Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 price objective on the stock in a research note on Thursday, December 14th. KeyCorp reiterated a “buy” rating and issued a $70.00 price objective (up from $63.00) on shares of KMG Chemicals in a research note on Wednesday, December 13th. Finally, ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $71.00.

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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)

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