David L. Hatcher Sells 3,000 Shares of KMG Chemicals, Inc. (KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $47.73, for a total transaction of $143,190.00. Following the sale, the insider now directly owns 1,610,097 shares in the company, valued at $76,849,929.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (KMG) opened at 48.02 on Friday. The firm has a market cap of $570.91 million, a PE ratio of 26.34 and a beta of 0.58. The company has a 50 day moving average of $49.55 and a 200-day moving average of $47.94. KMG Chemicals, Inc. has a 12-month low of $25.87 and a 12-month high of $61.10.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The firm had revenue of $81.60 million for the quarter, compared to the consensus estimate of $79.78 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that KMG Chemicals, Inc. will post $2.09 EPS for the current fiscal year.
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A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub cut shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alambic Investment Management L.P. boosted its position in shares of KMG Chemicals by 36.1% in the first quarter. Alambic Investment Management L.P. now owns 27,866 shares of the specialty chemicals company’s stock worth $1,284,000 after buying an additional 7,397 shares during the last quarter. Oxford Asset Management bought a new position in shares of KMG Chemicals during the first quarter worth about $374,000. Hillsdale Investment Management Inc. boosted its position in shares of KMG Chemicals by 458.3% in the first quarter. Hillsdale Investment Management Inc. now owns 26,800 shares of the specialty chemicals company’s stock worth $1,235,000 after buying an additional 22,000 shares during the last quarter. Trexquant Investment LP boosted its position in shares of KMG Chemicals by 17.6% in the first quarter. Trexquant Investment LP now owns 8,053 shares of the specialty chemicals company’s stock worth $371,000 after buying an additional 1,208 shares during the last quarter. Finally, TFS Capital LLC boosted its position in shares of KMG Chemicals by 27.0% in the first quarter. TFS Capital LLC now owns 8,049 shares of the specialty chemicals company’s stock worth $371,000 after buying an additional 1,710 shares during the last quarter. 73.72% of the stock is owned by 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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