KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 9,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $49.45, for a total transaction of $445,050.00. Following the transaction, the insider now directly owns 1,568,097 shares of the company’s stock, valued at $77,542,396.65. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (NYSE:KMG) traded up 0.08% on Wednesday, reaching $49.77. 70,329 shares of the company’s stock traded hands. KMG Chemicals, Inc. has a 52 week low of $26.33 and a 52 week high of $61.10. The firm has a market capitalization of $591.72 million, a P/E ratio of 27.30 and a beta of 0.59. The company’s 50-day moving average is $48.59 and its 200-day moving average is $49.09.
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Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th.
A number of large investors have recently added to or reduced their stakes in KMG. Wells Fargo & Company MN raised its stake in KMG Chemicals by 2,650.2% during the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after purchasing an additional 284,581 shares during the last quarter. Acadian Asset Management LLC raised its stake in KMG Chemicals by 108.7% during the 2nd quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after purchasing an additional 209,577 shares during the last quarter. Numeric Investors LLC raised its stake in KMG Chemicals by 82.6% during the 2nd quarter. Numeric Investors LLC now owns 261,829 shares of the specialty chemicals company’s stock valued at $12,743,000 after purchasing an additional 118,440 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in KMG Chemicals during the 1st quarter valued at $3,436,000. Finally, EAM Investors LLC acquired a new position in KMG Chemicals during the 2nd quarter valued at $3,533,000. Hedge funds and other institutional investors own 73.72% of the company’s stock.
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.
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