Kemet Corporation (KEM) Trading Down 0% After Insider Selling

Kemet Corporation (NYSE:KEM) traded down 0% on Friday following insider selling activity. The stock traded as low as $15.30 and last traded at $15.44. 2,701,184 shares were traded during mid-day trading, an increase of 89% from the average session volume of 1,430,858 shares. The stock had previously closed at $15.44.

Specifically, Director Frank G. Brandenberg sold 11,525 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $23.12, for a total value of $266,458.00. Following the completion of the transaction, the director now owns 66,831 shares in the company, valued at approximately $1,545,132.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William M. Lowe, Jr. sold 21,903 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total transaction of $352,200.24. Following the completion of the transaction, the chief financial officer now owns 523,038 shares of the company’s stock, valued at approximately $8,410,451.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,428 shares of company stock valued at $1,050,368. Company insiders own 3.88% of the company’s stock.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Friday, October 6th. BidaskClub cut shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. B. Riley restated a “buy” rating and issued a $24.25 target price on shares of Kemet Corporation in a report on Thursday, August 3rd. TheStreet upgraded shares of Kemet Corporation from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Finally, ValuEngine cut shares of Kemet Corporation from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $22.50.

The stock has a market capitalization of $918.12, a P/E ratio of 16.79 and a beta of 3.65. The company has a quick ratio of 1.73, a current ratio of 2.51 and a debt-to-equity ratio of 0.75.

Kemet Corporation (NYSE:KEM) last issued its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $301.47 million during the quarter, compared to analysts’ expectations of $298.51 million. Kemet Corporation had a net margin of 31.16% and a return on equity of 21.07%. Kemet Corporation’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. equities analysts predict that Kemet Corporation will post 1.44 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in Kemet Corporation by 59.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock worth $48,500,000 after purchasing an additional 1,418,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kemet Corporation by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock worth $38,503,000 after purchasing an additional 179,841 shares during the period. Vanguard Group Inc. boosted its stake in Kemet Corporation by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock worth $22,374,000 after purchasing an additional 202,892 shares during the period. Numeric Investors LLC boosted its stake in Kemet Corporation by 1,622.5% during the 2nd quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock worth $14,221,000 after purchasing an additional 1,046,539 shares during the period. Finally, State Street Corp boosted its stake in Kemet Corporation by 1,972.6% during the 2nd quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock worth $9,606,000 after purchasing an additional 714,335 shares during the period. Hedge funds and other institutional investors own 67.05% of the company’s stock.

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About Kemet Corporation

KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.

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