KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 6,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $53.93, for a total value of $323,580.00. Following the transaction, the insider now owns 1,397,097 shares in the company, valued at approximately $75,345,441.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE KMG) opened at $55.05 on Friday. KMG Chemicals, Inc. has a 52 week low of $32.05 and a 52 week high of $61.10. The company has a quick ratio of 1.64, a current ratio of 2.52 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $845.90, a PE ratio of 24.25 and a beta of 0.55.
KMG Chemicals (NYSE:KMG) last posted its earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.16. KMG Chemicals had a return on equity of 17.45% and a net margin of 7.09%. The company had revenue of $96.26 million for the quarter, compared to analyst estimates of $96.00 million. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. equities research analysts expect that KMG Chemicals, Inc. will post 2.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 22nd will be paid a $0.03 dividend. The ex-dividend date is Thursday, December 21st. This represents a $0.12 annualized dividend and a yield of 0.22%. KMG Chemicals’s dividend payout ratio (DPR) is presently 6.25%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP grew its stake in 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. California Public Employees Retirement System grew its stake in KMG Chemicals by 2.1% in the third quarter. California Public Employees Retirement System now owns 50,543 shares of the specialty chemicals company’s stock valued at $2,774,000 after purchasing an additional 1,043 shares during the last quarter. Allianz Asset Management GmbH grew its stake in KMG Chemicals by 31.4% in the third quarter. Allianz Asset Management GmbH now owns 91,022 shares of the specialty chemicals company’s stock valued at $4,995,000 after purchasing an additional 21,738 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in KMG Chemicals by 93.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 35,571 shares of the specialty chemicals company’s stock valued at $1,953,000 after purchasing an additional 17,171 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in KMG Chemicals in the third quarter valued at about $244,000. Institutional investors own 56.20% of the company’s stock.
Several brokerages have recently commented on KMG. Zacks Investment Research lowered KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub lowered KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. KeyCorp began coverage on KMG Chemicals in a research note on Tuesday, November 21st. They set an “overweight” rating and a $63.00 price target on the stock. Finally, ValuEngine lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $50.00.
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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.
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