KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $48.53, for a total value of $291,180.00. Following the sale, the insider now directly owns 1,721,097 shares in the company, valued at $83,524,837.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (KMG) traded up 0.68% during mid-day trading on Monday, hitting $50.44. The stock had a trading volume of 65,036 shares. The company’s 50 day moving average is $53.53 and its 200-day moving average is $44.45. The stock has a market capitalization of $599.68 million, a P/E ratio of 27.67 and a beta of 0.57. KMG Chemicals, Inc. has a 52 week low of $25.22 and a 52 week high of $61.10.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The company had revenue of $81.60 million during the quarter, compared to analysts’ expectations of $79.78 million. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. On average, analysts expect that KMG Chemicals, Inc. will post $2.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Tuesday, June 13th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.24%. The ex-dividend date was Friday, June 9th. KMG Chemicals’s payout ratio is 6.67%.
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in KMG Chemicals by 3.0% in the fourth quarter. State Street Corp now owns 139,844 shares of the specialty chemicals company’s stock valued at $5,439,000 after buying an additional 4,038 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in KMG Chemicals by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,465 shares of the specialty chemicals company’s stock valued at $20,980,000 after buying an additional 25,228 shares during the last quarter. Renaissance Technologies LLC boosted its position 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. Teachers Advisors LLC boosted its position in KMG Chemicals by 45.6% in the fourth quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock valued at $785,000 after buying an additional 6,322 shares during the last quarter. Finally, WCM Investment Management CA boosted its position in KMG Chemicals by 1.2% in the first quarter. WCM Investment Management CA now owns 56,840 shares of the specialty chemicals company’s stock valued at $2,619,000 after buying an additional 670 shares during the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.
Separately, Gabelli raised 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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