KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $66.85, for a total value of $601,650.00. Following the transaction, the insider now owns 1,376,097 shares in the company, valued at approximately $91,992,084.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (KMG) opened at $67.03 on Friday. KMG Chemicals, Inc. has a 1 year low of $36.29 and a 1 year high of $68.13. The company has a quick ratio of 1.92, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1,030.00, a price-to-earnings ratio of 35.09 and a beta of 0.53.
KMG Chemicals (NYSE:KMG) last posted its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.20. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company had revenue of $110.70 million for the quarter, compared to the consensus estimate of $106.60 million. The company’s quarterly revenue was up 44.7% compared to the same quarter last year. equities research analysts expect that KMG Chemicals, Inc. will post 3.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 22nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. KMG Chemicals’s payout ratio is presently 6.28%.
Several hedge funds and other institutional investors have recently modified their holdings of KMG. Vanguard Group Inc. grew its stake in shares of KMG Chemicals by 6.2% in the first quarter. Vanguard Group Inc. now owns 341,457 shares of the specialty chemicals company’s stock valued at $15,731,000 after buying an additional 19,856 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of KMG Chemicals by 894.2% in the second quarter. Russell Investments Group Ltd. now owns 34,609 shares of the specialty chemicals company’s stock valued at $1,685,000 after buying an additional 31,128 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of KMG Chemicals by 29.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 18,400 shares of the specialty chemicals company’s stock valued at $896,000 after buying an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp grew its stake in KMG Chemicals by 46.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 82,928 shares of the specialty chemicals company’s stock worth $4,036,000 after purchasing an additional 26,367 shares in the last quarter. Finally, Legal & General Group Plc grew its stake 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 in the last quarter. 56.17% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on KMG shares. ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. KeyCorp restated a “buy” rating and issued a $70.00 target price (up previously from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock 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. The company presently has a consensus rating of “Hold” and a consensus 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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