KMG Chemicals, Inc. (NYSE:KMG) major shareholder David L. Hatcher sold 9,000 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $50.67, for a total transaction of $456,030.00. Following the completion of the sale, the insider now directly owns 1,559,097 shares in the company, valued at $78,999,444.99. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
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Several equities research analysts have issued reports on KMG shares. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in KMG Chemicals in the 2nd quarter worth about $465,000. The Manufacturers Life Insurance Company increased its stake in KMG Chemicals by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,228 shares of the specialty chemicals company’s stock worth $351,000 after purchasing an additional 112 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in KMG Chemicals in the 2nd quarter worth about $242,000. State Street Corp increased its stake in KMG Chemicals by 15.4% in the 2nd quarter. State Street Corp now owns 162,609 shares of the specialty chemicals company’s stock worth $7,916,000 after purchasing an additional 21,712 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in KMG Chemicals by 16.0% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 62,353 shares of the specialty chemicals company’s stock worth $3,034,000 after purchasing an additional 8,600 shares in the last quarter. 73.72% of the stock is currently owned by hedge funds and other 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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