KMG Chemicals, Inc. (KMG) Major Shareholder Sells $2,598,300.00 in Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 45,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $57.74, for a total transaction of $2,598,300.00. Following the transaction, the insider now owns 896,097 shares in the company, valued at approximately $51,740,640.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. (KMG) opened at $59.77 on Thursday. The firm has a market cap of $899.74, a price-to-earnings ratio of 31.29 and a beta of 0.35. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.92 and a current ratio of 2.87. KMG Chemicals, Inc. has a 1-year low of $36.41 and a 1-year high of $68.13.

KMG Chemicals (NYSE:KMG) last announced its earnings results on Monday, December 11th. The specialty chemicals company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.20. The company had revenue of $110.70 million during the quarter, compared to the consensus estimate of $106.60 million. KMG Chemicals had a net margin of 6.46% and a return on equity of 15.41%. The company’s quarterly revenue was up 44.7% on a year-over-year basis. equities analysts forecast that KMG Chemicals, Inc. will post 3.17 EPS for the current year.

Several research analysts have weighed in on KMG shares. Goldman Sachs Group started coverage on shares of KMG Chemicals in a report on Monday, January 22nd. They set a “neutral” rating and a $73.00 price objective on the stock. KeyCorp started coverage on shares of KMG Chemicals in a report on Tuesday, November 21st. They set an “overweight” rating and a $63.00 price objective on the stock. Zacks Investment Research upgraded shares of KMG Chemicals from a “sell” rating to a “hold” rating and set a $70.00 price objective on the stock in a report on Thursday, December 14th. Finally, ValuEngine downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $71.00.

Hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP raised its holdings in shares of KMG Chemicals by 39.7% in the third quarter. Susquehanna International Group LLP now owns 21,166 shares of the specialty chemicals company’s stock valued at $1,162,000 after purchasing an additional 6,014 shares during the last quarter. Prudential Financial Inc. raised its holdings in shares of KMG Chemicals by 49.3% in the third quarter. Prudential Financial Inc. now owns 75,508 shares of the specialty chemicals company’s stock valued at $4,144,000 after purchasing an additional 24,930 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $18,316,000 after purchasing an additional 34,875 shares during the last quarter. EAM Investors LLC raised its holdings in shares of KMG Chemicals by 4.9% in the third quarter. EAM Investors LLC now owns 76,118 shares of the specialty chemicals company’s stock valued at $4,177,000 after purchasing an additional 3,521 shares during the last quarter. Finally, Morse Asset Management Inc raised its holdings in shares of KMG Chemicals by 589.9% in the fourth quarter. Morse Asset Management Inc now owns 51,745 shares of the specialty chemicals company’s stock valued at $3,419,000 after purchasing an additional 44,245 shares during the last quarter. Institutional investors own 58.26% of the company’s stock.

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KMG Chemicals Company Profile

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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