KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 15,000 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $64.12, for a total transaction of $961,800.00. Following the transaction, the insider now owns 1,226,097 shares in the company, valued at $78,617,339.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (KMG) opened at $67.03 on Friday. The company has a market cap of $1,030.00, a P/E ratio of 35.09 and a beta of 0.53. KMG Chemicals, Inc. has a 1 year low of $36.29 and a 1 year high of $68.13. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 1.92.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.63 by $0.20. The business had revenue of $110.70 million for the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The firm’s quarterly revenue was up 44.7% compared to the same quarter last year. sell-side analysts predict that KMG Chemicals, Inc. will post 3.17 EPS for the current fiscal year.
KMG has been the topic of several recent analyst reports. KeyCorp initiated coverage on shares of KMG Chemicals in a research report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 target price on the stock. Zacks Investment Research upgraded shares of KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research report on Thursday, December 14th. Finally, ValuEngine lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $70.00.
Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of 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 valued at $106,000 after purchasing an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of 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 valued at $128,000 after purchasing an additional 981 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of KMG Chemicals in the third quarter valued at approximately $155,000. Hodges Capital Management Inc. acquired a new stake in shares of KMG Chemicals in the third quarter valued at approximately $221,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of KMG Chemicals in the third quarter valued at approximately $244,000. Institutional investors and hedge funds own 56.17% of the company’s stock.
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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