Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $148,770.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $49.59, for a total transaction of $148,770.00. Following the completion of the sale, the insider now owns 1,715,097 shares in the company, valued at $85,051,660.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE KMG) opened at 51.40 on Monday. The company’s 50-day moving average is $53.53 and its 200 day moving average is $44.45. The company has a market capitalization of $611.09 million, a P/E ratio of 28.20 and a beta of 0.58. KMG Chemicals, Inc. has a one year low of $25.87 and a one year high of $61.10.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The company had revenue of $81.60 million for the quarter, compared to the consensus estimate of $79.78 million. During the same period in the previous year, the firm earned $0.41 earnings per share. KMG Chemicals’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that KMG Chemicals, Inc. will post $2.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Tuesday, June 13th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, June 9th. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.67%.
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Institutional investors have recently modified their holdings of the company. Youngs Advisory Group Inc. increased its position in shares of KMG Chemicals by 1.2% in the second quarter. Youngs Advisory Group Inc. now owns 29,753 shares of the specialty chemicals company’s stock worth $1,448,000 after buying an additional 356 shares during the period. American International Group Inc. increased its position in shares of KMG Chemicals by 7.0% in the first quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock worth $256,000 after buying an additional 365 shares during the period. Wells Fargo & Company MN increased its position in shares of KMG Chemicals by 6.1% in the first quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock worth $494,000 after buying an additional 615 shares during the period. WCM Investment Management CA increased its position in shares of KMG Chemicals by 1.2% in the first quarter. WCM Investment Management CA now owns 56,840 shares of the specialty chemicals company’s stock worth $2,619,000 after buying an additional 670 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after buying an additional 778 shares during the period. 70.00% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on KMG shares. Gabelli upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Monday, May 1st. BidaskClub upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a 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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