David L. Hatcher Sells 9,000 Shares of KMG Chemicals, Inc. (KMG) Stock
KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $49.02, for a total transaction of $441,180.00. Following the sale, the insider now directly owns 1,577,097 shares of the company’s stock, valued at approximately $77,309,294.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of KMG Chemicals, Inc. (NYSE KMG) opened at 48.87 on Friday. KMG Chemicals, Inc. has a 52-week low of $26.33 and a 52-week high of $61.10. The company has a market cap of $581.02 million, a P/E ratio of 26.81 and a beta of 0.59. The firm has a 50-day moving average of $48.63 and a 200-day moving average of $48.77.
Several equities research analysts recently weighed in 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.
A number of hedge funds and other institutional investors have recently modified their holdings of KMG. Teachers Advisors LLC increased its position in KMG Chemicals by 45.6% in the 4th quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock worth $785,000 after buying an additional 6,322 shares during the period. Russell Investments Group Ltd. increased its position in KMG Chemicals by 28.8% in the 1st quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after buying an additional 778 shares during the period. Wells Fargo & Company MN increased its position in KMG Chemicals by 6.1% in the 1st quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock worth $494,000 after buying an additional 615 shares during the period. State Board of Administration of Florida Retirement System bought a new position in KMG Chemicals in the 1st quarter worth approximately $209,000. Finally, American Century Companies Inc. increased its position in KMG Chemicals by 69.5% in the 1st quarter. American Century Companies Inc. now owns 36,153 shares of the specialty chemicals company’s stock worth $1,666,000 after buying an additional 14,823 shares during the period. 73.72% of the stock is currently owned by institutional investors.
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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