Chartwell Investment Partners LLC cut its stake in shares of KMG Chemicals, Inc. (NYSE:KMG) by 30.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,945 shares of the specialty chemicals company’s stock after selling 28,000 shares during the period. Chartwell Investment Partners LLC owned approximately 0.55% of KMG Chemicals worth $3,161,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of KMG Chemicals by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 565,154 shares of the specialty chemicals company’s stock valued at $26,036,000 after buying an additional 25,689 shares in the last quarter. Acadian Asset Management LLC increased its position in KMG Chemicals by 108.7% in the second quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after buying an additional 209,577 shares in the last quarter. Renaissance Technologies LLC increased its position in KMG Chemicals by 5.9% in the first quarter. Renaissance Technologies LLC now owns 381,500 shares of the specialty chemicals company’s stock valued at $17,576,000 after buying an additional 21,300 shares in the last quarter. Vanguard Group Inc. increased its position in KMG Chemicals by 6.2% in the first quarter. Vanguard Group Inc. now owns 341,457 shares of the specialty chemicals company’s stock valued at $15,731,000 after buying an additional 19,856 shares in the last quarter. Finally, State Street Corp increased its position in KMG Chemicals by 3.0% in the fourth quarter. State Street Corp now owns 139,844 shares of the specialty chemicals company’s stock valued at $5,439,000 after buying an additional 4,038 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

KMG Chemicals, Inc. (NYSE:KMG) opened at 47.09 on Tuesday. The stock has a market cap of $559.85 million, a P/E ratio of 25.83 and a beta of 0.58. The company has a 50-day moving average of $49.90 and a 200 day moving average of $47.48. KMG Chemicals, Inc. has a 1-year low of $25.87 and a 1-year high of $61.10.

KMG Chemicals (NYSE:KMG) last announced its quarterly earnings results on Friday, June 9th. The specialty chemicals company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The company had revenue of $81.60 million for the quarter, compared to analyst estimates of $79.78 million. KMG Chemicals had a net margin of 7.05% and a return on equity of 15.66%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. Analysts predict that KMG Chemicals, Inc. will post $2.09 EPS for the current year.

WARNING: “KMG Chemicals, Inc. (KMG) Position Lowered by Chartwell Investment Partners LLC” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/08/22/kmg-chemicals-inc-kmg-position-lowered-by-chartwell-investment-partners-llc.html.

Several research analysts recently commented on KMG shares. Gabelli raised shares of KMG Chemicals from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, BidaskClub downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $46.85, for a total value of $421,650.00. Following the transaction, the insider now directly owns 1,751,097 shares in the company, valued at $82,038,894.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David L. Hatcher sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $51.87, for a total transaction of $311,220.00. Following the completion of the transaction, the insider now owns 1,769,097 shares in the company, valued at $91,763,061.39. The disclosure for this sale can be found here. Insiders sold 189,000 shares of company stock worth $9,363,180 over the last quarter. 6.90% of the stock is currently owned by insiders.

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 & Stock 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 stocks with our FREE daily email newsletter.