Trigran Investments Inc. Has $37.33 Million Holdings in KMG Chemicals, Inc. (KMG)

Trigran Investments Inc. reduced its stake in shares of KMG Chemicals, Inc. (NYSE:KMG) by 43.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 766,999 shares of the specialty chemicals company’s stock after selling 586,027 shares during the quarter. KMG Chemicals makes up approximately 9.6% of Trigran Investments Inc.’s investment portfolio, making the stock its 3rd largest position. Trigran Investments Inc. owned approximately 6.45% of KMG Chemicals worth $37,329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of KMG. Wells Fargo & Company MN boosted its stake in shares of KMG Chemicals by 2,650.2% during the second quarter. Wells Fargo & Company MN now owns 295,319 shares of the specialty chemicals company’s stock valued at $14,373,000 after purchasing an additional 284,581 shares during the period. Acadian Asset Management LLC boosted its stake in shares of KMG Chemicals by 108.7% during the second quarter. Acadian Asset Management LLC now owns 402,356 shares of the specialty chemicals company’s stock valued at $19,582,000 after purchasing an additional 209,577 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of KMG Chemicals during the first quarter valued at $3,436,000. ClariVest Asset Management LLC purchased a new stake in shares of KMG Chemicals during the second quarter valued at $2,604,000. Finally, Bank of America Corp DE boosted its stake in shares of KMG Chemicals by 323.3% during the first quarter. Bank of America Corp DE now owns 61,220 shares of the specialty chemicals company’s stock valued at $2,820,000 after purchasing an additional 46,756 shares during the period. 73.72% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Trigran Investments Inc. Has $37.33 Million Holdings in KMG Chemicals, Inc. (KMG)” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another site, it was illegally stolen and reposted in violation of international trademark & copyright law. The legal version of this report can be read at https://ledgergazette.com/2017/09/16/kmg-chemicals-inc-kmg-is-trigran-investments-inc-s-3rd-largest-position.html.

In other KMG Chemicals news, major shareholder David L. Hatcher sold 9,000 shares of KMG Chemicals stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $48.64, for a total value of $437,760.00. Following the completion of the transaction, the insider now directly owns 1,760,897 shares of the company’s stock, valued at approximately $85,650,030.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David L. Hatcher sold 3,000 shares of KMG Chemicals stock in a transaction dated 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 of the company’s stock, valued at $85,051,660.23. The disclosure for this sale can be found here. Insiders have sold a total of 255,000 shares of company stock valued at $12,512,460 over the last three months. Corporate insiders own 6.90% of the company’s stock.

KMG Chemicals, Inc. (NYSE:KMG) traded down 0.55% during mid-day trading on Friday, reaching $48.87. 83,804 shares of the company were exchanged. The stock has a market capitalization of $581.02 million, a price-to-earnings ratio of 26.81 and a beta of 0.59. KMG Chemicals, Inc. has a 1-year low of $26.33 and a 1-year high of $61.10. The stock’s 50-day moving average price is $48.63 and its 200-day moving average price is $48.77.

A number of brokerages have recently issued reports on KMG. Zacks Investment Research lowered shares of KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub lowered shares of KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th.

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 & 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.

Leave a Reply