Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells 3,000 Shares of Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $53.67, for a total value of $161,010.00. Following the completion of the sale, the insider now owns 1,523,097 shares in the company, valued at approximately $81,744,615.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (NYSE KMG) traded up 0.50% during midday trading on Wednesday, hitting $54.35. The company had a trading volume of 53,876 shares. KMG Chemicals, Inc. has a 52 week low of $26.33 and a 52 week high of $61.10. The company has a market capitalization of $646.17 million, a P/E ratio of 29.81 and a beta of 0.62. The firm’s 50 day moving average is $50.58 and its 200 day moving average is $50.47.
The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.12 dividend on an annualized basis and a yield of 0.22%. KMG Chemicals’s dividend payout ratio is presently 6.67%.
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A number of large investors have recently made changes to their positions in KMG. Creative Planning purchased a new position in KMG Chemicals during the 2nd quarter valued at about $105,000. Legal & General Group Plc increased its holdings in 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 valued at $106,000 after purchasing an additional 414 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in KMG Chemicals by 59.9% during 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 period. Russell Investments Group Ltd. increased its holdings in KMG Chemicals by 28.8% during 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 period. Finally, AXA purchased a new position in KMG Chemicals during the 1st quarter valued at about $208,000. Institutional investors own 73.72% of the company’s stock.
Several equities research analysts recently commented on KMG shares. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.
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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