KMG Chemicals, Inc. (KMG) Major Shareholder David L. Hatcher Sells 3,000 Shares
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $54.10, for a total transaction of $162,300.00. Following the completion of the sale, the insider now owns 1,523,097 shares of the company’s stock, valued at $82,399,547.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (KMG) traded up 0.50% during midday trading on Wednesday, reaching $54.35. 53,876 shares of the company’s stock traded hands. 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 $50.58 and its 200 day moving average price is $50.47. The stock has a market capitalization of $646.17 million, a P/E ratio of 29.81 and a beta of 0.62.
The company 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. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, October 6th. KMG Chemicals’s dividend payout ratio is presently 6.67%.
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Institutional investors have recently modified their holdings of the company. Creative Planning acquired a new position in shares of KMG Chemicals in the 2nd quarter valued at $105,000. Legal & General Group Plc boosted its holdings in shares of 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 buying an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of 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 buying an additional 981 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of 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 buying an additional 778 shares in the last quarter. Finally, AXA acquired a new position in shares of KMG Chemicals in the 1st quarter valued at $208,000. Institutional investors and hedge funds own 73.72% of the company’s stock.
Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
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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