Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 30,000 Shares of Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 30,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $64.84, for a total value of $1,945,200.00. Following the completion of the transaction, the insider now owns 1,151,097 shares in the company, valued at approximately $74,637,129.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of KMG Chemicals, Inc. (KMG) traded up $0.16 during midday trading on Wednesday, hitting $64.57. The company had a trading volume of 144,497 shares, compared to its average volume of 213,199. The company has a quick ratio of 1.92, a current ratio of 2.87 and a debt-to-equity ratio of 0.99. KMG Chemicals, Inc. has a 52 week low of $36.29 and a 52 week high of $68.13. The company has a market capitalization of $992.59, a PE ratio of 33.81 and a beta of 0.53.

KMG Chemicals (NYSE:KMG) last released its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $110.70 million for the quarter, compared to analysts’ expectations of $106.60 million. The business’s quarterly revenue was up 44.7% on a year-over-year basis. research analysts anticipate that KMG Chemicals, Inc. will post 3.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 22nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Thursday, December 21st. KMG Chemicals’s dividend payout ratio is presently 6.28%.

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its position in KMG Chemicals by 23.2% in the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock valued at $128,000 after acquiring an additional 981 shares during the last quarter. Victory Capital Management Inc. bought a new position in KMG Chemicals in the third quarter valued at about $155,000. Hodges Capital Management Inc. bought a new position in KMG Chemicals in the third quarter valued at about $221,000. Finally, Cubist Systematic Strategies LLC bought a new position in KMG Chemicals in the second quarter valued at about $242,000. Hedge funds and other institutional investors own 56.17% of the company’s stock.

A number of research analysts recently commented on KMG shares. KeyCorp restated a “buy” rating and issued a $70.00 price target (up previously from $63.00) on shares of KMG Chemicals in a research report on Wednesday, December 13th. Zacks Investment Research upgraded KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a research report on Thursday, December 14th. Finally, ValuEngine cut KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.00.

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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.

Insider Buying and Selling by Quarter for KMG Chemicals (NYSE:KMG)

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