Bank of New York Mellon Corp increased its stake in shares of KMG Chemicals, Inc. (NYSE:KMG) by 46.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 82,928 shares of the specialty chemicals company’s stock after purchasing an additional 26,367 shares during the period. Bank of New York Mellon Corp owned approximately 0.70% of KMG Chemicals worth $4,036,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Youngs Advisory Group Inc. boosted its position in shares of KMG Chemicals by 1.2% during the 2nd quarter. Youngs Advisory Group Inc. now owns 29,753 shares of the specialty chemicals company’s stock worth $1,448,000 after purchasing an additional 356 shares during the period. American International Group Inc. boosted its position in shares of KMG Chemicals by 7.0% during the 1st quarter. American International Group Inc. now owns 5,547 shares of the specialty chemicals company’s stock worth $256,000 after purchasing an additional 365 shares during the period. Wells Fargo & Company MN boosted its position in shares of KMG Chemicals by 6.1% during the 1st quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock worth $494,000 after purchasing an additional 615 shares during the period. Russell Investments Group Ltd. boosted its position in shares of 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 worth $160,000 after purchasing an additional 778 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of KMG Chemicals by 10.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,791 shares of the specialty chemicals company’s stock worth $497,000 after purchasing an additional 1,022 shares during the period. 73.72% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This story was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/10/07/kmg-chemicals-inc-kmg-shares-bought-by-bank-of-new-york-mellon-corp.html.

Shares of KMG Chemicals, Inc. (KMG) opened at 54.11 on Friday. The firm’s 50-day moving average is $50.20 and its 200-day moving average is $50.19. The firm has a market capitalization of $643.31 million, a price-to-earnings ratio of 29.68 and a beta of 0.62. KMG Chemicals, Inc. has a 12-month low of $26.33 and a 12-month high of $61.10.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $0.12 annualized dividend and a yield of 0.22%. KMG Chemicals’s dividend payout ratio is currently 6.67%.

In other news, major shareholder David L. Hatcher sold 3,000 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $49.59, for a total value of $148,770.00. Following the completion of the transaction, the insider now directly owns 1,715,097 shares in the company, valued at $85,051,660.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David L. Hatcher sold 9,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $49.82, for a total transaction of $448,380.00. Following the completion of the transaction, the insider now owns 1,715,097 shares of the company’s stock, valued at $85,446,132.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,000 shares of company stock valued at $13,332,060. 6.90% of the stock is owned by insiders.

KMG has been the topic of a number of research reports. BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th.

KMG Chemicals 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.

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.