Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $395,640.00 in Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $65.94, for a total value of $395,640.00. Following the sale, the insider now owns 1,367,097 shares in the company, valued at approximately $90,146,376.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% 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 $65.69 on Monday. 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 stock has a market capitalization of $1,010.00, a price-to-earnings ratio of 34.39 and a beta of 0.55.

KMG Chemicals (NYSE:KMG) last issued its quarterly earnings data on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $110.70 million for the quarter, compared to the consensus estimate of $106.60 million. The company’s revenue for the quarter was up 44.7% compared to the same quarter last year. analysts expect that KMG Chemicals, Inc. will post 3.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 22nd will be given a $0.03 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.28%.

Several research firms have issued reports on KMG. Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research report on Thursday, December 14th. KeyCorp reiterated a “buy” rating and issued a $70.00 price objective (up previously from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. Finally, ValuEngine downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $70.00.

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of KMG Chemicals by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock worth $29,609,000 after buying an additional 43,214 shares in the last quarter. Vanguard Group Inc. raised its position in shares of KMG Chemicals by 10.2% in the second quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock worth $18,316,000 after buying an additional 34,875 shares in the last quarter. Wells Fargo & Company MN increased its stake in KMG Chemicals by 5.8% in the third quarter. Wells Fargo & Company MN now owns 312,563 shares of the specialty chemicals company’s stock valued at $17,154,000 after acquiring an additional 17,244 shares during the last quarter. Numeric Investors LLC increased its stake in KMG Chemicals by 82.6% in the second quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock valued at $12,743,000 after acquiring an additional 118,440 shares during the last quarter. Finally, State Street Corp increased its stake in KMG Chemicals by 15.4% in the second quarter. State Street Corp now owns 162,609 shares of the specialty chemicals company’s stock valued at $7,916,000 after acquiring an additional 21,712 shares during the last quarter. 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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