Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $1,983,000.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $66.10, for a total value of $1,983,000.00. Following the sale, the insider now owns 1,301,097 shares of the company’s stock, valued at $86,002,511.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (KMG) opened at $64.47 on Friday. The company has a current ratio of 2.87, a quick ratio of 1.92 and a debt-to-equity ratio of 0.99. KMG Chemicals, Inc. has a 12-month low of $36.29 and a 12-month high of $68.13. The firm has a market cap of $1,000.00, a price-to-earnings ratio of 33.75 and a beta of 0.53.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The firm had revenue of $110.70 million during the quarter, compared to analysts’ expectations of $106.60 million. KMG Chemicals’s revenue for the quarter was up 44.7% on a year-over-year basis. analysts anticipate that KMG Chemicals, Inc. will post 3.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. KMG Chemicals’s dividend payout ratio (DPR) is 6.28%.
A number of analysts have recently commented on KMG shares. KeyCorp restated a “buy” rating and set a $70.00 price objective (up from $63.00) on shares of KMG Chemicals in a report on Wednesday, December 13th. ValuEngine cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research raised shares of KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 price target for the company in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. KMG Chemicals currently has a consensus rating of “Hold” and an average price target of $70.00.
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in KMG Chemicals by 23.2% during the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 414 shares during the period. Oppenheimer Asset Management Inc. boosted its position in KMG Chemicals by 59.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 981 shares during the last quarter. Victory Capital Management Inc. purchased a new position in KMG Chemicals in the 3rd quarter valued at about $155,000. Hodges Capital Management Inc. purchased a new position in KMG Chemicals in the 3rd quarter valued at about $221,000. Finally, Cubist Systematic Strategies LLC purchased a new position in KMG Chemicals in the 2nd quarter valued at about $242,000. 56.17% of the stock is owned by hedge funds and other institutional investors.
About KMG Chemicals
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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