KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $52.18, for a total transaction of $156,540.00. Following the completion of the transaction, the insider now directly owns 1,433,097 shares of the company’s stock, valued at approximately $74,779,001.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE KMG) opened at $53.58 on Friday. KMG Chemicals, Inc. has a 12 month low of $32.05 and a 12 month high of $61.10. The company has a quick ratio of 1.64, a current ratio of 2.52 and a debt-to-equity ratio of 3.01. The stock has a market cap of $831.13, a price-to-earnings ratio of 23.83 and a beta of 0.55.
KMG Chemicals (NYSE:KMG) last posted its earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. The business had revenue of $96.26 million for the quarter, compared to analyst estimates of $96.00 million. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. KMG Chemicals’s revenue was up 27.8% compared to the same quarter last year. equities analysts anticipate that KMG Chemicals, Inc. will post 2.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.12 annualized dividend and a yield of 0.22%. KMG Chemicals’s dividend payout ratio is 6.25%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB acquired a new stake in KMG Chemicals in the 2nd quarter worth $1,465,000. PDT Partners LLC boosted its position in shares of KMG Chemicals by 91.7% during the 2nd quarter. PDT Partners LLC now owns 22,807 shares of the specialty chemicals company’s stock valued at $1,110,000 after acquiring an additional 10,907 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of KMG Chemicals by 167.6% during the 2nd quarter. Federated Investors Inc. PA now owns 32,445 shares of the specialty chemicals company’s stock valued at $1,579,000 after acquiring an additional 20,321 shares in the last quarter. American International Group Inc. boosted its position in shares of KMG Chemicals by 7.0% during the 1st quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock valued at $256,000 after acquiring an additional 365 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of KMG Chemicals by 323.3% during the 1st quarter. Bank of America Corp DE now owns 61,220 shares of the specialty chemicals company’s stock valued at $2,820,000 after acquiring an additional 46,756 shares in the last quarter. Institutional investors own 56.20% of the company’s stock.
A number of research firms have recently weighed in on KMG. Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. ValuEngine downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st. KeyCorp began coverage on shares of KMG Chemicals in a report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 price target on the stock. Finally, BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. KMG Chemicals presently has an average rating of “Hold” and a consensus target price of $50.00.
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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