Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 12,000 Shares of Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 12,000 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $54.83, for a total value of $657,960.00. Following the completion of the sale, the insider now directly owns 1,499,097 shares in the company, valued at approximately $82,195,488.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of KMG Chemicals, Inc. (KMG) traded up $0.36 during mid-day trading on Friday, hitting $52.95. The stock had a trading volume of 303,500 shares, compared to its average volume of 99,161. The company has a quick ratio of 1.64, a current ratio of 2.52 and a debt-to-equity ratio of 3.01. KMG Chemicals, Inc. has a twelve month low of $29.13 and a twelve month high of $61.10. The stock has a market capitalization of $808.08, a P/E ratio of 23.17 and a beta of 0.56.

KMG Chemicals (NYSE:KMG) last issued its earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. The firm had revenue of $96.26 million for the quarter, compared to the consensus estimate of $96.00 million. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. analysts anticipate that KMG Chemicals, Inc. will post 2.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. KMG Chemicals’s dividend payout ratio is presently 6.25%.

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A number of equities research analysts have recently issued reports on KMG shares. BidaskClub lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.

Several hedge funds and other institutional investors have recently bought and sold shares of KMG. Russell Investments Group Ltd. lifted its position in shares of KMG Chemicals by 28.8% during the 1st quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 778 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of KMG Chemicals by 6.1% in the 1st quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock valued at $494,000 after purchasing an additional 615 shares during the period. State Board of Administration of Florida Retirement System bought a new stake in shares of KMG Chemicals in the 1st quarter valued at approximately $209,000. Bank of New York Mellon Corp grew its stake in shares of KMG Chemicals by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 56,561 shares of the specialty chemicals company’s stock valued at $2,606,000 after purchasing an additional 1,262 shares during the period. Finally, Prudential Financial Inc. bought a new stake in KMG Chemicals during the 1st quarter worth approximately $1,784,000. 58.44% of the stock is owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for KMG Chemicals (NYSE:KMG)

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