Federated Investors Inc. PA lifted its stake in shares of KMG Chemicals, Inc. (NYSE:KMG) by 167.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,445 shares of the specialty chemicals company’s stock after acquiring an additional 20,321 shares during the quarter. Federated Investors Inc. PA owned 0.27% of KMG Chemicals worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of KMG. Teachers Advisors LLC increased its position in shares of KMG Chemicals by 45.6% during the fourth quarter. Teachers Advisors LLC now owns 20,185 shares of the specialty chemicals company’s stock worth $785,000 after acquiring an additional 6,322 shares during the period. Russell Investments Group Ltd. increased its position in shares of KMG Chemicals by 28.8% during the first quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 778 shares during the period. Wells Fargo & Company MN increased its position in shares of KMG Chemicals by 6.1% during the first quarter. Wells Fargo & Company MN now owns 10,738 shares of the specialty chemicals company’s stock worth $494,000 after acquiring an additional 615 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of KMG Chemicals during the first quarter worth $209,000. Finally, American Century Companies Inc. increased its position in shares of KMG Chemicals by 69.5% during the first quarter. American Century Companies Inc. now owns 36,153 shares of the specialty chemicals company’s stock worth $1,666,000 after acquiring an additional 14,823 shares during the period. 73.72% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on KMG shares. BidaskClub raised KMG Chemicals from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research lowered KMG Chemicals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th.
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In related news, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $51.96, for a total transaction of $155,880.00. Following the sale, the insider now owns 1,685,097 shares of the company’s stock, valued at approximately $87,557,640.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey S. Handelman purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The shares were purchased at an average cost of $48.50 per share, for a total transaction of $97,000.00. Following the purchase, the senior vice president now directly owns 2,000 shares in the company, valued at $97,000. The disclosure for this purchase can be found here. Insiders have sold a total of 243,000 shares of company stock worth $11,923,800 in the last 90 days. Company insiders own 6.90% of the company’s stock.
Shares of KMG Chemicals, Inc. (NYSE:KMG) opened at 48.91 on Wednesday. The stock’s 50 day moving average price is $48.93 and its 200-day moving average price is $48.59. KMG Chemicals, Inc. has a 52-week low of $25.87 and a 52-week high of $61.10. The stock has a market cap of $581.49 million, a price-to-earnings ratio of 26.83 and a beta of 0.59.
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.
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