The Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $161,010.00 in Stock

The Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $161,010.00 in Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $53.67, for a total transaction of $161,010.00. Following the completion of the transaction, the insider now directly owns 1,523,097 shares of the company’s stock, valued at approximately $81,744,615.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

KMG Chemicals, Inc. (KMG) opened at 55.47 on Friday. The company has a market cap of $659.48 million, a P/E ratio of 30.43 and a beta of 0.62. The stock has a 50 day moving average of $51.19 and a 200-day moving average of $50.62. KMG Chemicals, Inc. has a 12 month low of $26.33 and a 12 month high of $61.10.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, October 10th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. KMG Chemicals’s dividend payout ratio is currently 6.67%.

KMG has been the subject of a number of analyst reports. BidaskClub raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in KMG Chemicals by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock valued at $29,609,000 after buying an additional 43,214 shares during the period. Acadian Asset Management LLC grew its position in KMG Chemicals by 108.7% during the second quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after buying an additional 209,577 shares during the period. Renaissance Technologies LLC grew its position in KMG Chemicals by 5.9% during the first quarter. Renaissance Technologies LLC now owns 381,500 shares of the specialty chemicals company’s stock valued at $17,576,000 after buying an additional 21,300 shares during the period. Vanguard Group Inc. grew its position in KMG Chemicals by 10.2% during the second quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock valued at $18,316,000 after buying an additional 34,875 shares during the period. Finally, Wells Fargo & Company MN grew its position in KMG Chemicals by 2,650.2% during the second quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after buying an additional 284,581 shares during the period. Institutional investors own 73.72% of the company’s stock.

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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