KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $64.95, for a total value of $2,922,750.00. Following the sale, the insider now owns 1,226,097 shares in the company, valued at $79,635,000.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE KMG) opened at $59.71 on Friday. KMG Chemicals, Inc. has a 52 week low of $36.29 and a 52 week high of $68.13. The stock has a market capitalization of $933.87 and a P/E ratio of 23.19. The company has a quick ratio of 1.92, a current ratio of 2.87 and a debt-to-equity ratio of 0.99.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. The company had revenue of $110.70 million for the quarter, compared to analysts’ expectations of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The company’s revenue for the quarter was up 44.7% on a year-over-year basis. analysts expect that KMG Chemicals, Inc. will post 3.17 EPS for the current year.
The business also recently announced 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 of this dividend was Thursday, December 21st. This represents a $0.12 annualized dividend and a yield of 0.20%. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.28%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of KMG Chemicals by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock valued at $29,609,000 after purchasing an additional 43,214 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of KMG Chemicals by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock valued at $18,316,000 after purchasing an additional 34,875 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of KMG Chemicals by 12,127.5% during the 4th quarter. Victory Capital Management Inc. now owns 345,549 shares of the specialty chemicals company’s stock valued at $22,834,000 after purchasing an additional 342,723 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of KMG Chemicals by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 312,563 shares of the specialty chemicals company’s stock valued at $17,154,000 after purchasing an additional 17,244 shares during the last quarter. Finally, Peregrine Capital Management LLC purchased a new stake in shares of KMG Chemicals during the 4th quarter valued at $17,901,000. 53.88% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. Goldman Sachs Group began coverage on KMG Chemicals in a research report on Monday, January 22nd. They set a “neutral” rating and a $73.00 price objective on the stock. Zacks Investment Research raised KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research note on Thursday, December 14th. KeyCorp reaffirmed a “buy” rating and set a $70.00 target price (up previously from $63.00) on shares of KMG Chemicals in a research note on Wednesday, December 13th. Finally, ValuEngine cut KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. KMG Chemicals currently has an average rating of “Hold” and a consensus price target of $71.00.
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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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