Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 9,000 Shares of Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $49.49, for a total transaction of $445,410.00. Following the completion of the sale, the insider now owns 1,655,097 shares of the company’s stock, valued at approximately $81,910,750.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large 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) traded down 0.87% during mid-day trading on Wednesday, hitting $48.92. 66,060 shares of the stock traded hands. The company has a market capitalization of $581.61 million, a PE ratio of 26.83 and a beta of 0.58. KMG Chemicals, Inc. has a 1-year low of $25.87 and a 1-year high of $61.10. The company’s 50-day moving average price is $49.75 and its 200 day moving average price is $46.51.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The firm had revenue of $81.60 million during the quarter, compared to analyst estimates of $79.78 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts forecast that KMG Chemicals, Inc. will post $2.09 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in KMG. State Street Corp raised its stake in KMG Chemicals by 3.0% in the fourth quarter. State Street Corp now owns 139,844 shares of the specialty chemicals company’s stock valued at $5,439,000 after buying an additional 4,038 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in KMG Chemicals by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,465 shares of the specialty chemicals company’s stock valued at $20,980,000 after buying an additional 25,228 shares during the last quarter. Teachers Advisors LLC raised its stake in KMG Chemicals by 45.6% in the fourth quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 6,322 shares during the last quarter. WCM Investment Management CA raised its stake in 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 valued at $2,619,000 after buying an additional 670 shares during the last quarter. Finally, Youngs Advisory Group Inc. raised its stake in KMG Chemicals by 1.8% in the first quarter. Youngs Advisory Group Inc. now owns 29,397 shares of the specialty chemicals company’s stock valued at $1,354,000 after buying an additional 508 shares during the last quarter. 71.23% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented 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.
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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