KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $54.66, for a total transaction of $163,980.00. Following the completion of the sale, the insider now owns 1,469,097 shares of the company’s stock, valued at approximately $80,300,842.02. 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.
Shares of KMG Chemicals, Inc. (NYSE:KMG) opened at $54.58 on Monday. KMG Chemicals, Inc. has a 52 week low of $26.57 and a 52 week high of $61.10. The company has a market cap of $813.61, a price-to-earnings ratio of 24.04 and a beta of 0.56. The company has a quick ratio of 1.64, a current ratio of 2.52 and a debt-to-equity ratio of 3.01.
KMG Chemicals (NYSE:KMG) last announced its quarterly earnings data on Monday, October 16th. The specialty chemicals company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.16. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The firm had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. equities research analysts expect that KMG Chemicals, Inc. will post 3.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Tuesday, October 10th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Friday, October 6th. KMG Chemicals’s dividend payout ratio (DPR) is 6.25%.
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Several hedge funds and other institutional investors have recently made changes to their positions in KMG. Russell Investments Group Ltd. lifted its stake in shares of KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock valued at $160,000 after purchasing an additional 778 shares during the period. Wells Fargo & Company MN lifted its stake in shares of KMG Chemicals by 6.1% in the first quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock valued at $494,000 after purchasing an additional 615 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of KMG Chemicals in the first quarter valued at about $209,000. Bank of New York Mellon Corp lifted its stake in shares of KMG Chemicals by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 56,561 shares of the specialty chemicals company’s stock valued at $2,606,000 after purchasing an additional 1,262 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of KMG Chemicals in the first quarter valued at about $1,784,000. Hedge funds and other institutional investors own 58.44% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub cut shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th.
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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