KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $49.67, for a total value of $149,010.00. Following the completion of the transaction, the insider now directly owns 1,655,097 shares of the company’s stock, valued at $82,208,667.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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) traded down 0.87% during midday trading on Wednesday, hitting $48.92. The stock had a trading volume of 66,060 shares. The company has a 50-day moving average price of $49.75 and a 200-day moving average price of $46.51. The company has a market cap of $581.61 million, a price-to-earnings ratio of 26.83 and a beta of 0.58. KMG Chemicals, Inc. has a 12-month low of $25.87 and a 12-month high of $61.10.
KMG Chemicals (NYSE:KMG) last issued its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.06. KMG Chemicals had a return on equity of 15.66% and a net margin of 7.05%. The business had revenue of $81.60 million during the quarter, compared to the consensus estimate of $79.78 million. During the same period in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that KMG Chemicals, Inc. will post $2.09 EPS for the current year.
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Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in shares of KMG Chemicals by 108.7% in the second quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock worth $19,582,000 after buying an additional 209,577 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of KMG Chemicals during the first quarter worth $3,436,000. ClariVest Asset Management LLC purchased a new stake in shares of KMG Chemicals during the second quarter worth $2,604,000. Bank of America Corp DE increased its stake in shares of KMG Chemicals by 323.3% in the first quarter. Bank of America Corp DE now owns 61,220 shares of the specialty chemicals company’s stock worth $2,820,000 after buying an additional 46,756 shares during the period. Finally, Redwood Investments LLC purchased a new stake in shares of KMG Chemicals during the second quarter worth $2,129,000. Institutional investors and hedge funds own 71.23% of the company’s stock.
Several research firms have recently weighed in on KMG. BidaskClub downgraded KMG Chemicals from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Gabelli raised KMG Chemicals from a “hold” rating to a “buy” rating in a report on Monday, May 1st.
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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