KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 15,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $64.42, for a total value of $966,300.00. Following the sale, the insider now owns 1,121,097 shares of the company’s stock, valued at $72,221,068.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (NYSE:KMG) traded up $0.06 during midday trading on Friday, reaching $64.16. The company’s stock had a trading volume of 91,028 shares, compared to its average volume of 213,718. The firm has a market cap of $986.29, a price-to-earnings ratio of 33.59 and a beta of 0.53. 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, Inc. has a 12-month low of $36.29 and a 12-month high of $68.13.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.20. The business had revenue of $110.70 million during the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. KMG Chemicals’s quarterly revenue was up 44.7% on a year-over-year basis. equities research analysts forecast that KMG Chemicals, Inc. will post 3.17 EPS for the current fiscal year.
A number of brokerages have commented on KMG. KeyCorp restated a “buy” rating and set a $70.00 price objective (up from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research lowered KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. 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’s stock. KMG Chemicals has a consensus rating of “Hold” and a consensus target price of $70.00.
Several institutional investors have recently made changes to their positions in KMG. Schwab Charles Investment Management Inc. lifted its holdings in shares of KMG Chemicals by 29.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 18,400 shares of the specialty chemicals company’s stock valued at $896,000 after buying an additional 4,200 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of KMG Chemicals by 46.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 82,928 shares of the specialty chemicals company’s stock valued at $4,036,000 after buying an additional 26,367 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of KMG Chemicals by 23.2% during the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 414 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of KMG Chemicals by 30.6% during the 2nd quarter. Prudential Financial Inc. now owns 50,578 shares of the specialty chemicals company’s stock valued at $2,461,000 after buying an additional 11,850 shares during the last quarter. Finally, Swiss National Bank acquired a new stake in shares of KMG Chemicals during the 2nd quarter valued at about $769,000. Institutional investors and hedge funds own 56.17% of the company’s stock.
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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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