Insider Selling: KMG Chemicals, Inc. (KMG) Major Shareholder Sells $474,390.00 in Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $52.71, for a total value of $474,390.00. Following the completion of the sale, the insider now owns 1,550,097 shares in the company, valued at $81,705,612.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of KMG Chemicals, Inc. (NYSE KMG) opened at 54.88 on Friday. The company has a market capitalization of $652.47 million, a PE ratio of 30.10 and a beta of 0.59. The firm has a 50-day moving average price of $48.59 and a 200-day moving average price of $49.09. KMG Chemicals, Inc. has a 1-year low of $26.33 and a 1-year high of $61.10.
The business also recently declared a dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, October 10th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, October 6th. KMG Chemicals’s dividend payout ratio is 6.67%.
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A number of equities research analysts have issued reports on the company. Zacks Investment Research cut KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub cut KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th.
A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in KMG Chemicals by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock valued at $351,000 after buying an additional 112 shares in the last quarter. Youngs Advisory Group Inc. boosted its stake in KMG Chemicals by 1.2% in the 2nd quarter. Youngs Advisory Group Inc. now owns 29,753 shares of the specialty chemicals company’s stock valued at $1,448,000 after buying an additional 356 shares in the last quarter. American International Group Inc. boosted its stake in KMG Chemicals by 7.0% in the 1st quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock valued at $256,000 after buying an additional 365 shares in the last quarter. Legal & General Group Plc boosted its stake 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 buying an additional 414 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in KMG Chemicals by 8.0% in the second quarter. Voya Investment Management LLC now owns 6,213 shares of the specialty chemicals company’s stock worth $302,000 after purchasing an additional 458 shares in the last quarter. 73.72% of the stock is currently owned by institutional investors and hedge funds.
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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