David L. Hatcher Sells 3,000 Shares of KMG Chemicals, Inc. (NYSE:KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $49.67, for a total value of $149,010.00. Following the completion of the sale, the insider now owns 1,655,097 shares of the company’s stock, valued at $82,208,667.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE KMG) traded down 0.87% on Wednesday, reaching $48.92. The company had a trading volume of 66,060 shares. KMG Chemicals, Inc. has a one year low of $25.87 and a one year high of $61.10. The stock has a market cap of $581.61 million, a price-to-earnings ratio of 26.83 and a beta of 0.58. The company has a 50-day moving average of $49.75 and a 200 day moving average of $46.51.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The business had revenue of $81.60 million during the quarter, compared to analysts’ expectations of $79.78 million. During the same period in the prior year, the firm posted $0.41 EPS. KMG Chemicals’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts predict that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
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Several institutional investors have recently modified their holdings of KMG. Oppenheimer Asset Management Inc. boosted 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 buying an additional 981 shares during the last quarter. Swiss National Bank bought a new position in shares of KMG Chemicals during the second quarter worth about $769,000. Chicago Equity Partners LLC bought a new position in shares of KMG Chemicals during the second quarter worth about $303,000. IndexIQ Advisors LLC bought a new position in shares of KMG Chemicals during the second quarter worth about $500,000. Finally, Prudential Financial Inc. boosted its position in shares of KMG Chemicals by 30.6% in the second quarter. Prudential Financial Inc. now owns 50,578 shares of the specialty chemicals company’s stock worth $2,461,000 after buying an additional 11,850 shares during the last quarter. 71.23% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on KMG. Gabelli upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th.
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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