David L. Hatcher Sells 9,000 Shares of KMG Chemicals, Inc. (KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $56.22, for a total transaction of $505,980.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (KMG) traded down 5.19% on Wednesday, hitting $55.21. 308,852 shares of the stock were exchanged. The firm’s 50 day moving average price is $51.29 and its 200 day moving average price is $50.73. The firm has a market cap of $656.39 million, a price-to-earnings ratio of 30.29 and a beta of 0.62. KMG Chemicals, Inc. has a one year low of $26.33 and a one year high of $61.10.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.16. The firm had revenue of $96.26 million for the quarter, compared to the consensus estimate of $96.00 million. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.98%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts anticipate that KMG Chemicals, Inc. will post $3.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.12 annualized dividend and a yield of 0.22%. KMG Chemicals’s dividend payout ratio is presently 6.25%.
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A number of research analysts have recently issued reports on the stock. BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in KMG Chemicals by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock valued at $29,609,000 after buying an additional 43,214 shares during the period. Acadian Asset Management LLC increased its stake in KMG Chemicals by 108.7% during the 2nd quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after buying an additional 209,577 shares during the period. Renaissance Technologies LLC increased its stake in KMG Chemicals by 5.9% during the 1st quarter. Renaissance Technologies LLC now owns 381,500 shares of the specialty chemicals company’s stock valued at $17,576,000 after buying an additional 21,300 shares during the period. Vanguard Group Inc. increased its stake in KMG Chemicals by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock valued at $18,316,000 after buying an additional 34,875 shares during the period. Finally, Wells Fargo & Company MN increased its stake in KMG Chemicals by 2,650.2% during the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after buying an additional 284,581 shares during the period. 73.72% of the stock is currently owned by hedge funds and other 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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