KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $51.17, for a total transaction of $307,020.00. Following the transaction, the insider now owns 1,691,097 shares of the company’s stock, valued at approximately $86,533,433.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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) traded down 0.42% during trading on Friday, hitting $51.66. 57,823 shares of the stock traded hands. KMG Chemicals, Inc. has a one year low of $25.87 and a one year high of $61.10. The stock has a market cap of $614.19 million, a PE ratio of 28.34 and a beta of 0.57. The company has a 50-day moving average price of $51.10 and a 200 day moving average price of $45.69.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data 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 company had revenue of $81.60 million during the quarter, compared to analysts’ expectations of $79.78 million. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Analysts expect that KMG Chemicals, Inc. will post $2.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Tuesday, June 13th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. KMG Chemicals’s payout ratio is presently 6.67%.
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KMG has been the subject of several recent research reports. Gabelli upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. BidaskClub upgraded shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th.
Several hedge funds and other institutional investors have recently modified their holdings of KMG. TFS Capital LLC boosted its position in shares of KMG Chemicals by 27.0% in the first quarter. TFS Capital LLC now owns 8,049 shares of the specialty chemicals company’s stock worth $371,000 after buying an additional 1,710 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of KMG Chemicals by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 56,561 shares of the specialty chemicals company’s stock worth $2,606,000 after buying an additional 1,262 shares during the last quarter. American Century Companies Inc. boosted its position in shares of KMG Chemicals by 69.5% in the first quarter. American Century Companies Inc. now owns 36,153 shares of the specialty chemicals company’s stock worth $1,666,000 after buying an additional 14,823 shares during the last quarter. Algert Global LLC boosted its position in shares of KMG Chemicals by 3.8% in the first quarter. Algert Global LLC now owns 108,184 shares of the specialty chemicals company’s stock worth $4,984,000 after buying an additional 3,979 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of KMG Chemicals during the first quarter worth about $209,000. 70.00% of the stock is owned by institutional investors.
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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