KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 45,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 45,000 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $64.95, for a total transaction of $2,922,750.00. Following the completion of the sale, the insider now owns 1,226,097 shares in the company, valued at $79,635,000.15. The transaction was disclosed in a document filed with the SEC, which is available 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.
Shares of KMG Chemicals, Inc. (NYSE KMG) opened at $65.94 on Thursday. 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 $1,010.00, a PE ratio of 34.52 and a beta of 0.53.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.20. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The business had revenue of $110.70 million for the quarter, compared to analyst estimates 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 announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 22nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.18%. KMG Chemicals’s dividend payout ratio (DPR) is currently 6.28%.
Several institutional investors have recently modified their holdings of the company. Thomson Horstmann & Bryant Inc. boosted its position in shares of KMG Chemicals by 68.8% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 42,745 shares of the specialty chemicals company’s stock valued at $2,824,000 after acquiring an additional 17,425 shares in the last quarter. Susquehanna International Group LLP boosted its position in shares of KMG Chemicals by 39.7% during the 3rd quarter. Susquehanna International Group LLP now owns 21,166 shares of the specialty chemicals company’s stock valued at $1,162,000 after acquiring an additional 6,014 shares in the last quarter. California Public Employees Retirement System lifted its holdings in KMG Chemicals by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 50,543 shares of the specialty chemicals company’s stock valued at $2,774,000 after purchasing an additional 1,043 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in KMG Chemicals by 31.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 91,022 shares of the specialty chemicals company’s stock valued at $4,995,000 after purchasing an additional 21,738 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in KMG Chemicals by 93.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 35,571 shares of the specialty chemicals company’s stock valued at $1,953,000 after purchasing an additional 17,171 shares during the last quarter. Institutional investors and hedge funds own 56.17% of the company’s stock.
Several analysts have issued reports on the stock. KeyCorp restated a “buy” rating and issued a $70.00 price target (up from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. ValuEngine lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $70.00.
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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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