KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $48.89, for a total transaction of $146,670.00. Following the completion of the transaction, the insider now directly owns 1,763,097 shares in the company, valued at $86,197,812.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (KMG) traded down 2.08% during trading on Friday, hitting $48.90. 221,138 shares of the company were exchanged. The stock has a market capitalization of $581.37 million, a PE ratio of 26.82 and a beta of 0.61. KMG Chemicals, Inc. has a 1-year low of $23.27 and a 1-year high of $61.10. The company has a 50 day moving average of $55.32 and a 200-day moving average of $43.58.
KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The company had revenue of $81.60 million during the quarter, compared to the consensus estimate of $79.78 million. During the same period last year, the company earned $0.41 EPS. KMG Chemicals’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that KMG Chemicals, Inc. will post $2.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Tuesday, June 13th will be issued a $0.03 dividend. The ex-dividend date is Friday, June 9th. This represents a $0.12 annualized dividend and a yield of 0.25%. KMG Chemicals’s payout ratio is 6.67%.
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A number of large investors have recently added to or reduced their stakes in KMG. Numeric Investors LLC acquired a new stake in KMG Chemicals during the fourth quarter valued at approximately $4,689,000. Driehaus Capital Management LLC acquired a new stake in KMG Chemicals during the first quarter valued at approximately $3,436,000. Bank of America Corp DE increased its stake in KMG Chemicals by 323.3% in the first quarter. Bank of America Corp DE now owns 61,220 shares of the specialty chemicals company’s stock valued at $2,820,000 after buying an additional 46,756 shares during the last quarter. Renaissance Technologies LLC increased its stake in KMG Chemicals by 14.4% in the fourth quarter. Renaissance Technologies LLC now owns 360,200 shares of the specialty chemicals company’s stock valued at $14,008,000 after buying an additional 45,300 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in KMG Chemicals during the first quarter valued at approximately $1,784,000. Institutional investors own 70.01% of the company’s stock.
Separately, Gabelli raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a report on Monday, May 1st.
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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