David L. Hatcher Sells 6,000 Shares of KMG Chemicals, Inc. (KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $65.94, for a total value of $395,640.00. Following the completion of the transaction, the insider now directly owns 1,367,097 shares of the company’s stock, valued at approximately $90,146,376.18. The transaction 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 shares are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (KMG) opened at $65.69 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.87 and a quick ratio of 1.92. The company has a market capitalization of $1,013.96, a PE ratio of 34.39 and a beta of 0.55. KMG Chemicals, Inc. has a 52 week low of $36.29 and a 52 week high of $68.13.
KMG Chemicals (NYSE:KMG) last issued its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.20. The firm had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The business’s revenue was up 44.7% on a year-over-year basis. equities analysts expect that KMG Chemicals, Inc. will post 3.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.18%. The ex-dividend date is Thursday, December 21st. KMG Chemicals’s payout ratio is 6.28%.
KMG has been the subject of a number of analyst reports. ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. KeyCorp reaffirmed a “buy” rating and issued a $70.00 price target (up previously from $63.00) on shares of KMG Chemicals in a research note on Wednesday, December 13th. Finally, Zacks Investment Research raised KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 price target for the company in a research note on Thursday, December 14th. One 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 stock presently has an average rating of “Hold” and a consensus price target of $70.00.
Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc raised its stake in KMG Chemicals by 23.2% during the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in KMG Chemicals by 59.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after acquiring an additional 981 shares in the last quarter. Victory Capital Management Inc. acquired a new position in KMG Chemicals during the third quarter worth about $155,000. Hodges Capital Management Inc. acquired a new position in KMG Chemicals during the third quarter worth about $221,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in KMG Chemicals during the third quarter worth about $244,000. 56.17% of the stock is owned by hedge funds and other institutional investors.
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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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