Nationwide Fund Advisors lowered its position in shares of KMG Chemicals, Inc. (NYSE:KMG) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,639 shares of the specialty chemicals company’s stock after selling 91 shares during the period. Nationwide Fund Advisors owned approximately 0.06% of KMG Chemicals worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in KMG. Creative Planning acquired a new stake in KMG Chemicals in the 2nd quarter valued at approximately $105,000. Legal & General Group Plc grew its stake in shares of KMG Chemicals by 23.2% in the second quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 414 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of KMG Chemicals by 59.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock worth $128,000 after acquiring an additional 981 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of KMG Chemicals by 28.8% in the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 778 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of KMG Chemicals in the first quarter worth $230,000. Institutional investors and hedge funds own 58.44% of the company’s stock.

In other news, major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $48.15, for a total value of $433,350.00. Following the completion of the sale, the insider now directly owns 1,640,097 shares of the company’s stock, valued at $78,970,670.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David L. Hatcher sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $52.79, for a total transaction of $158,370.00. Following the completion of the sale, the insider now directly owns 1,463,097 shares of the company’s stock, valued at $77,236,890.63. The disclosure for this sale can be found here. Insiders sold 234,000 shares of company stock valued at $12,037,500 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.

Shares of KMG Chemicals, Inc. (KMG) opened at $52.59 on Friday. The stock has a market cap of $800.55, a price-to-earnings ratio of 22.95 and a beta of 0.56. KMG Chemicals, Inc. has a 1 year low of $28.35 and a 1 year high of $61.10. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.64 and a current ratio of 2.52.

KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Monday, October 16th. The specialty chemicals company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16. KMG Chemicals had a net margin of 7.09% and a return on equity of 17.45%. The firm had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. research analysts anticipate that KMG Chemicals, Inc. will post 2.77 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Tuesday, October 10th were issued a $0.03 dividend. The ex-dividend date was Friday, October 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.23%. KMG Chemicals’s payout ratio is 6.25%.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BidaskClub cut shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th.

COPYRIGHT VIOLATION NOTICE: This report was published by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.watchlistnews.com/kmg-chemicals-inc-kmg-stake-lessened-by-nationwide-fund-advisors/1692190.html.

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.

Want to see what other hedge funds are holding KMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KMG Chemicals, Inc. (NYSE:KMG).

Institutional Ownership by Quarter for KMG Chemicals (NYSE:KMG)

Receive News & Ratings for KMG Chemicals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KMG Chemicals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.