KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 30,000 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $66.22, for a total transaction of $1,986,600.00. Following the transaction, the insider now owns 1,181,097 shares of the company’s stock, valued at approximately $78,212,243.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) opened at $65.76 on Friday. The company has a market cap of $1,010.00, a price-to-earnings ratio of 34.43 and a beta of 0.53. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.92 and a current ratio of 2.87. KMG Chemicals, Inc. has a 12-month low of $36.29 and a 12-month high of $68.13.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.20. The company had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The company’s revenue was up 44.7% on a year-over-year basis. sell-side analysts expect that KMG Chemicals, Inc. will post 3.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, December 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.18%. KMG Chemicals’s payout ratio is currently 6.28%.
A number of institutional investors have recently made changes to their positions in KMG. Legal & General Group Plc grew its stake in shares of 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. grew its stake in shares of KMG Chemicals by 59.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after purchasing an additional 981 shares during the period. Victory Capital Management Inc. acquired a new position in shares of KMG Chemicals during the 3rd quarter worth $155,000. Hodges Capital Management Inc. acquired a new position in shares of KMG Chemicals during the 3rd quarter worth $221,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of KMG Chemicals during the 2nd quarter worth $242,000. Institutional investors own 56.17% of the company’s stock.
A number of equities analysts have commented on KMG shares. KeyCorp restated a “buy” rating and set a $70.00 price objective (up previously from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. ValuEngine downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 price objective for the company in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $70.00.
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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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