Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $601,650.00 in Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $66.85, for a total value of $601,650.00. Following the transaction, the insider now owns 1,376,097 shares of the company’s stock, valued at $91,992,084.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

KMG Chemicals, Inc. (NYSE 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. KMG Chemicals, Inc. has a 12 month low of $36.29 and a 12 month high of $68.13. The company has a market capitalization of $1,013.96, a price-to-earnings ratio of 25.18 and a beta of 0.55.

KMG Chemicals (NYSE:KMG) last released its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. KMG Chemicals had a return on equity of 15.41% and a net margin of 6.46%. The firm had revenue of $110.70 million during the quarter, compared to analyst estimates of $106.60 million. KMG Chemicals’s quarterly revenue was up 44.7% compared to the same quarter last year. research analysts predict that KMG Chemicals, Inc. will post 3.14 EPS for the current fiscal year.

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 21st. This represents a $0.12 annualized dividend and a yield of 0.18%. KMG Chemicals’s dividend payout ratio is currently 6.28%.

KMG has been the subject of a number of recent research reports. KeyCorp restated a “buy” rating and issued a $70.00 target price (up from $63.00) on shares of KMG Chemicals in a research note on Wednesday, December 13th. Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price for the company in a research note on Thursday, December 14th. Finally, ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research 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 has an average rating of “Hold” and an average target price of $70.00.

A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in shares of KMG Chemicals by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock worth $351,000 after purchasing an additional 112 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of 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 purchasing an additional 414 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of KMG Chemicals by 8.0% during the second quarter. Voya Investment Management LLC now owns 6,213 shares of the specialty chemicals company’s stock worth $302,000 after purchasing an additional 458 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of KMG Chemicals by 3.3% during the second quarter. Teachers Advisors LLC now owns 18,036 shares of the specialty chemicals company’s stock worth $878,000 after purchasing an additional 579 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 981 shares during the last quarter. Hedge funds and other institutional investors own 56.17% of the company’s stock.

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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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