KMG Chemicals, Inc. (KMG) Shares Sold by Martingale Asset Management L P
Martingale Asset Management L P reduced its stake in KMG Chemicals, Inc. (NYSE:KMG) by 36.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,318 shares of the specialty chemicals company’s stock after selling 28,313 shares during the period. Martingale Asset Management L P owned 0.41% of KMG Chemicals worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of KMG. Wells Fargo & Company MN lifted its stake in shares of KMG Chemicals by 2,650.2% in the 2nd quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock worth $14,373,000 after acquiring an additional 284,581 shares during the period. Acadian Asset Management LLC lifted its stake in KMG Chemicals by 108.7% during 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 purchasing an additional 209,577 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in KMG Chemicals during the first quarter valued at approximately $3,436,000. ClariVest Asset Management LLC acquired a new stake in KMG Chemicals during the second quarter valued at approximately $2,604,000. Finally, Bank of America Corp DE lifted its stake in KMG Chemicals by 323.3% during the first quarter. Bank of America Corp DE now owns 61,220 shares of the specialty chemicals company’s stock valued at $2,820,000 after purchasing an additional 46,756 shares during the last quarter. 73.72% of the stock is owned by institutional investors.
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In other news, major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction dated 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 owns 1,751,097 shares of the company’s stock, valued at approximately $82,038,894.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher T. Fraser bought 4,000 shares of KMG Chemicals stock in a transaction dated Thursday, June 22nd. The stock was acquired at an average cost of $46.99 per share, for a total transaction of $187,960.00. Following the purchase, the insider now directly owns 173,043 shares in the company, valued at approximately $8,131,290.57. The disclosure for this purchase can be found here. Insiders sold a total of 246,000 shares of company stock valued at $12,074,700 in the last 90 days. Corporate insiders own 6.90% of the company’s stock.
Several research firms recently commented on KMG. BidaskClub lowered shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
Shares of KMG Chemicals, Inc. (NYSE:KMG) opened at 50.04 on Tuesday. KMG Chemicals, Inc. has a 1-year low of $26.33 and a 1-year high of $61.10. The company’s 50-day moving average is $48.61 and its 200 day moving average is $49.01. The firm has a market capitalization of $594.93 million, a price-to-earnings ratio of 27.45 and a beta of 0.59.
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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