Bank of New York Mellon Corp reduced its stake in KMG Chemicals Inc. (NYSE:KMG) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,059 shares of the company’s stock after selling 100 shares during the period. Bank of New York Mellon Corp owned about 0.43% of KMG Chemicals worth $1,301,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. FNY Managed Accounts LLC purchased a new position in shares of KMG Chemicals during the second quarter valued at approximately $104,000. American Century Companies Inc. increased its position in shares of KMG Chemicals by 109.6% in the second quarter. American Century Companies Inc. now owns 20,580 shares of the company’s stock valued at $535,000 after buying an additional 10,760 shares during the period. Youngs Advisory Group Inc. increased its position in shares of KMG Chemicals by 2.5% in the second quarter. Youngs Advisory Group Inc. now owns 27,607 shares of the company’s stock valued at $718,000 after buying an additional 685 shares during the period. Geode Capital Management LLC increased its position in shares of KMG Chemicals by 1.3% in the first quarter. Geode Capital Management LLC now owns 52,391 shares of the company’s stock valued at $1,208,000 after buying an additional 690 shares during the period. Finally, State Street Corp increased its position in shares of KMG Chemicals by 0.3% in the first quarter. State Street Corp now owns 139,191 shares of the company’s stock valued at $3,213,000 after buying an additional 368 shares during the period. 68.91% of the stock is owned by institutional investors and hedge funds.
Shares of KMG Chemicals Inc. (NYSE:KMG) traded down 0.22% during trading on Wednesday, hitting $27.35. 17,262 shares of the company traded hands. The company has a 50 day moving average price of $27.85 and a 200 day moving average price of $25.53. The company has a market capitalization of $320.95 million, a price-to-earnings ratio of 17.86 and a beta of 0.67. KMG Chemicals Inc. has a 52 week low of $18.87 and a 52 week high of $29.45.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Tuesday, October 11th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.12 annualized dividend and a yield of 0.44%. KMG Chemicals’s payout ratio is 7.84%.
Separately, Zacks Investment Research downgraded shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 14th.
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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