KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of KMG Chemicals stock in a transaction on Friday, July 28th. The shares were sold at an average price of $50.91, for a total transaction of $305,460.00. Following the completion of the transaction, the insider now owns 1,676,097 shares in the company, valued at $85,330,098.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (NYSE:KMG) opened at 48.30 on Wednesday. The company’s 50-day moving average is $49.98 and its 200-day moving average is $47.18. KMG Chemicals, Inc. has a 12-month low of $25.87 and a 12-month high of $61.10. The stock has a market cap of $574.24 million, a P/E ratio of 26.49 and a beta of 0.58.
KMG Chemicals (NYSE:KMG) last announced its earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. The firm had revenue of $81.60 million during the quarter, compared to analyst estimates of $79.78 million. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. KMG Chemicals’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, analysts expect that KMG Chemicals, Inc. will post $2.09 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC raised its position in shares of KMG Chemicals by 45.6% in the fourth quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock worth $785,000 after buying an additional 6,322 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of KMG Chemicals during the first quarter worth about $3,436,000. Prudential Financial Inc. acquired a new position in KMG Chemicals during the first quarter valued at $1,784,000. Russell Investments Group Ltd. raised its position in 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 valued at $160,000 after buying an additional 778 shares during the period. Finally, Youngs Advisory Group Inc. raised its position 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 period. Hedge funds and other institutional investors own 72.76% of the company’s stock.
A number of analysts recently commented on KMG shares. Gabelli raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BidaskClub downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, July 28th.
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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