KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $49.67, for a total transaction of $149,010.00. Following the transaction, the insider now directly owns 1,655,097 shares of the company’s stock, valued at approximately $82,208,667.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. (NYSE:KMG) traded down 0.71% on Friday, reaching $47.66. 113,885 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $49.93 and its 200-day moving average price is $46.90. KMG Chemicals, Inc. has a 52 week low of $25.87 and a 52 week high of $61.10. The stock has a market capitalization of $566.63 million, a price-to-earnings ratio of 26.14 and a beta of 0.58.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings data on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The company had revenue of $81.60 million during the quarter, compared to the consensus estimate of $79.78 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts predict that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning bought a new position in KMG Chemicals during the second quarter worth approximately $105,000. Legal & General Group Plc increased its position in KMG Chemicals by 23.2% in the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 981 shares in the last quarter. Russell Investments Group Ltd. increased 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 worth $160,000 after buying an additional 778 shares in the last quarter. Finally, AXA bought a new position in KMG Chemicals during the first quarter worth approximately $208,000. 71.23% of the stock is owned by institutional investors.
Several research analysts have weighed in on the stock. BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday. Gabelli raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Monday, May 1st.
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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