KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $53.67, for a total value of $161,010.00. Following the transaction, the insider now owns 1,523,097 shares of the company’s stock, valued at $81,744,615.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
KMG Chemicals, Inc. (NYSE:KMG) traded up 0.77% during midday trading on Thursday, reaching $54.77. The company had a trading volume of 7,357 shares. KMG Chemicals, Inc. has a 1-year low of $26.33 and a 1-year high of $61.10. The company has a market capitalization of $651.16 million, a P/E ratio of 30.04 and a beta of 0.62. The firm has a 50-day moving average of $50.76 and a 200 day moving average of $50.50.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, October 10th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, October 6th. KMG Chemicals’s dividend payout ratio is currently 6.67%.
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Several equities analysts have recently weighed in on KMG shares. BidaskClub upgraded KMG Chemicals from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research downgraded KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.
A number of large investors have recently made changes to their positions in KMG. Russell Investments Group Ltd. increased its position in KMG Chemicals by 28.8% during the 1st quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 778 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of KMG Chemicals by 6.1% in the first quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock valued at $494,000 after purchasing an additional 615 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of KMG Chemicals in the first quarter valued at about $209,000. Bank of New York Mellon Corp increased its holdings in shares of KMG Chemicals by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 56,561 shares of the specialty chemicals company’s stock valued at $2,606,000 after purchasing an additional 1,262 shares during the period. Finally, Oxford Asset Management acquired a new position in shares of KMG Chemicals in the first quarter valued at about $374,000. 73.72% of the stock is currently 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.
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