The KMG Chemicals, Inc. (KMG) Major Shareholder Sells $164,400.00 in Stock

The KMG Chemicals, Inc. (KMG) Major Shareholder Sells $164,400.00 in Stock

KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $54.80, for a total transaction of $164,400.00. Following the completion of the sale, the insider now directly owns 1,514,097 shares of the company’s stock, valued at $82,972,515.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

KMG Chemicals, Inc. (KMG) traded up 0.95% during trading on Friday, reaching $55.47. 48,611 shares of the company traded hands. The firm has a 50-day moving average price of $50.96 and a 200-day moving average price of $50.53. 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 $659.48 million, a P/E ratio of 30.43 and a beta of 0.62.

The business 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 $0.03 dividend. 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 presently 6.67%.

A number of brokerages have recently issued reports on KMG. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub cut shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in KMG Chemicals by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 608,368 shares of the specialty chemicals company’s stock worth $29,609,000 after acquiring an additional 43,214 shares in the last quarter. Acadian Asset Management LLC increased its holdings in KMG Chemicals by 108.7% in the 2nd quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock worth $19,582,000 after acquiring an additional 209,577 shares in the last quarter. Renaissance Technologies LLC increased its holdings in KMG Chemicals by 5.9% in the 1st quarter. Renaissance Technologies LLC now owns 381,500 shares of the specialty chemicals company’s stock worth $17,576,000 after acquiring an additional 21,300 shares in the last quarter. Vanguard Group Inc. increased its holdings in KMG Chemicals by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 376,332 shares of the specialty chemicals company’s stock worth $18,316,000 after acquiring an additional 34,875 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in KMG Chemicals by 2,650.2% in the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock worth $14,373,000 after acquiring an additional 284,581 shares in the last quarter. 73.72% of the stock is owned by institutional investors.

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.

Related posts

Leave a Comment