KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $50.29, for a total transaction of $301,740.00. Following the completion of the sale, the insider now directly owns 1,670,097 shares in the company, valued at approximately $83,989,178.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE KMG) traded up 0.35% during mid-day trading on Wednesday, reaching $48.47. 12,767 shares of the company’s stock traded hands. The stock has a market cap of $576.26 million, a P/E ratio of 26.59 and a beta of 0.58. KMG Chemicals, Inc. has a 12 month low of $25.87 and a 12 month high of $61.10. The company has a 50 day moving average price of $49.98 and a 200-day moving average price of $47.18.
KMG Chemicals (NYSE:KMG) last posted its quarterly earnings data on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.06. The firm had revenue of $81.60 million for the quarter, compared to the consensus estimate of $79.78 million. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. On average, analysts anticipate that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
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A number of analysts have recently commented on KMG shares. Gabelli raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. BidaskClub raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday.
A number of institutional investors have recently bought and sold shares of KMG. Dimensional Fund Advisors LP increased its position in KMG Chemicals by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock worth $29,609,000 after buying an additional 43,214 shares in the last quarter. Acadian Asset Management LLC increased its position in KMG Chemicals by 108.7% in the second quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock worth $19,582,000 after buying an additional 209,577 shares in the last quarter. Renaissance Technologies LLC increased its position in KMG Chemicals by 5.9% in the first quarter. Renaissance Technologies LLC now owns 381,500 shares of the specialty chemicals company’s stock worth $17,576,000 after buying an additional 21,300 shares in the last quarter. Vanguard Group Inc. increased its position in KMG Chemicals by 10.2% in the second quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock worth $18,316,000 after buying an additional 34,875 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in KMG Chemicals by 2,650.2% in the second quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock worth $14,373,000 after buying an additional 284,581 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.
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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