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 stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $54.78, for a total transaction of $493,020.00. Following the transaction, the insider now directly owns 1,421,097 shares of the company’s stock, valued at approximately $77,847,693.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (NYSE KMG) traded down $0.86 during mid-day trading on Friday, reaching $53.61. 107,211 shares of the company’s stock traded hands, compared to its average volume of 225,796. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.52 and a quick ratio of 1.64. KMG Chemicals, Inc. has a 52 week low of $32.05 and a 52 week high of $61.10. The stock has a market cap of $799.15, a PE ratio of 23.96 and a beta of 0.56.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.16. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The company had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. sell-side analysts predict that KMG Chemicals, Inc. will post 2.76 earnings per share for the current fiscal year.
KMG has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. KeyCorp started coverage on shares of KMG Chemicals in a research report on Tuesday, November 21st. They issued an “overweight” rating and a $63.00 price target for the company. BidaskClub cut shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, ValuEngine cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $50.00.
A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in KMG Chemicals by 7.6% in 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. Vanguard Group Inc. lifted its position in shares of KMG Chemicals by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock worth $18,316,000 after purchasing an additional 34,875 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of KMG Chemicals by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 312,563 shares of the specialty chemicals company’s stock worth $17,154,000 after purchasing an additional 17,244 shares during the last quarter. Numeric Investors LLC lifted its position in shares of KMG Chemicals by 82.6% during the 2nd quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock worth $12,743,000 after purchasing an additional 118,440 shares during the last quarter. Finally, State Street Corp lifted its position in shares of KMG Chemicals by 15.4% during the 2nd quarter. State Street Corp now owns 162,609 shares of the specialty chemicals company’s stock worth $7,916,000 after purchasing an additional 21,712 shares during the last quarter. 56.24% 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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