KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $54.05, for a total transaction of $486,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) traded up 0.50% during midday trading on Wednesday, reaching $54.35. 53,876 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $50.58 and its 200-day moving average is $50.47. KMG Chemicals, Inc. has a 12-month low of $26.33 and a 12-month high of $61.10. The stock has a market capitalization of $646.17 million, a price-to-earnings ratio of 29.81 and a beta of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, October 10th will be issued a $0.03 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. KMG Chemicals’s dividend payout ratio is currently 6.67%.
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A number of equities research analysts have commented on KMG shares. Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in shares of KMG Chemicals in the second quarter worth $465,000. The Manufacturers Life Insurance Company increased its stake in shares of KMG Chemicals by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock worth $351,000 after acquiring an additional 112 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of KMG Chemicals in the second quarter worth $242,000. State Street Corp increased its stake in shares of KMG Chemicals by 15.4% in the second quarter. State Street Corp now owns 162,609 shares of the specialty chemicals company’s stock worth $7,916,000 after acquiring an additional 21,712 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of KMG Chemicals by 16.0% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 62,353 shares of the specialty chemicals company’s stock worth $3,034,000 after acquiring an additional 8,600 shares during the period. 73.72% of the stock is owned by institutional investors and hedge funds.
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.
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