KMG Chemicals, Inc. (KMG) Major Shareholder Sells $484,470.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $53.83, for a total value of $484,470.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (KMG) traded up 1.31% on Friday, hitting $54.11. The stock had a trading volume of 35,539 shares. The firm has a market cap of $643.31 million, a P/E ratio of 29.68 and a beta of 0.62. KMG Chemicals, Inc. has a 1-year low of $26.33 and a 1-year high of $61.10. The firm’s 50-day moving average price is $50.00 and its 200-day moving average price is $50.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, October 10th will be given a $0.03 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.12 annualized dividend and a yield of 0.22%. KMG Chemicals’s payout ratio is 6.67%.
Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning bought a new position in KMG Chemicals in the 2nd quarter valued at $105,000. Legal & General Group Plc raised its position in KMG Chemicals by 23.2% in the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in KMG Chemicals by 59.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock valued at $128,000 after purchasing an additional 981 shares during the last quarter. Russell Investments Group Ltd. raised its position in KMG Chemicals by 28.8% in the 1st quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock valued at $160,000 after purchasing an additional 778 shares during the last quarter. Finally, AXA bought a new position in KMG Chemicals in the 1st quarter valued at $208,000. Hedge funds and other institutional investors own 73.72% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub lowered 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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