Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 9,000 Shares of Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $54.81, for a total value of $493,290.00. Following the sale, the insider now owns 1,541,097 shares of the company’s stock, valued at $84,467,526.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) traded down 2.27% on Tuesday, reaching $55.15. 73,958 shares of the company’s stock traded hands. The stock’s 50 day moving average is $49.71 and its 200 day moving average is $50.05. KMG Chemicals, Inc. has a 52-week low of $26.33 and a 52-week high of $61.10. The firm has a market cap of $655.68 million, a price-to-earnings ratio of 30.25 and a beta of 0.62.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, October 6th. KMG Chemicals’s payout ratio is 6.67%.
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A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in KMG Chemicals by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock valued at $351,000 after buying an additional 112 shares during the last quarter. Youngs Advisory Group Inc. boosted its stake in shares of KMG Chemicals by 1.2% during the 2nd quarter. Youngs Advisory Group Inc. now owns 29,753 shares of the specialty chemicals company’s stock worth $1,448,000 after buying an additional 356 shares during the last quarter. American International Group Inc. boosted its stake in shares of KMG Chemicals by 7.0% during the 1st quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock worth $256,000 after buying an additional 365 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of KMG Chemicals by 23.2% during the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 414 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of KMG Chemicals by 8.0% during the 2nd quarter. Voya Investment Management LLC now owns 6,213 shares of the specialty chemicals company’s stock worth $302,000 after buying an additional 458 shares during the last quarter. 73.72% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded 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 research report on Saturday, August 12th.
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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