Nordea Investment Management AB acquired a new stake in KMG Chemicals, Inc. (NYSE:KMG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,100 shares of the specialty chemicals company’s stock, valued at approximately $1,465,000. Nordea Investment Management AB owned about 0.25% of KMG Chemicals at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of KMG. Creative Planning purchased a new position in KMG Chemicals in the 2nd quarter valued at about $105,000. Legal & General Group Plc boosted its position in KMG Chemicals by 23.2% in the 2nd quarter. Legal & General Group Plc now owns 2,198 shares of the specialty chemicals company’s stock valued at $106,000 after buying an additional 414 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in KMG Chemicals by 59.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,620 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 981 shares during the last quarter. Russell Investments Group Ltd. boosted its position in KMG Chemicals by 28.8% in the 1st quarter. Russell Investments Group Ltd. now owns 3,481 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 778 shares during the last quarter. Finally, AXA purchased a new position in KMG Chemicals in the 1st quarter valued at about $208,000. 73.72% of the stock is owned by institutional investors.
In other KMG Chemicals news, major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $53.53, for a total value of $160,590.00. Following the sale, the insider now directly owns 1,532,097 shares in the company, valued at approximately $82,013,152.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $54.81, for a total transaction of $493,290.00. Following the completion of the sale, the insider now owns 1,541,097 shares in the company, valued at $84,467,526.57. The disclosure for this sale can be found here. Insiders sold a total of 267,000 shares of company stock worth $13,332,060 over the last quarter. 6.90% of the stock is currently owned by company insiders.
KMG Chemicals, Inc. (NYSE:KMG) opened at 54.11 on Friday. The firm has a 50-day moving average of $50.20 and a 200-day moving average of $50.19. KMG Chemicals, Inc. has a 52-week low of $26.33 and a 52-week high of $61.10. The stock has a market capitalization of $643.31 million, a PE ratio of 29.68 and a beta of 0.62.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Tuesday, October 10th will be paid a $0.03 dividend. The ex-dividend date is Friday, October 6th. This represents a $0.12 dividend on an annualized basis and a yield of 0.22%. KMG Chemicals’s payout ratio is presently 6.67%.
A number of research firms have weighed in on KMG. BidaskClub cut shares of KMG Chemicals from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research 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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.