Rhumbline Advisers grew its stake in Kemet Corporation (NYSE:KEM) by 81.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 89,966 shares of the electronics maker’s stock after acquiring an additional 40,444 shares during the period. Rhumbline Advisers owned about 0.16% of Kemet worth $1,901,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in KEM. Globeflex Capital L P acquired a new position in shares of Kemet in the second quarter valued at approximately $105,000. State of Tennessee Treasury Department acquired a new position in shares of Kemet in the third quarter valued at approximately $108,000. Denali Advisors LLC acquired a new position in shares of Kemet in the third quarter valued at approximately $122,000. JPMorgan Chase & Co. acquired a new position in shares of Kemet in the second quarter valued at approximately $125,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Kemet in the second quarter valued at approximately $143,000. 69.90% of the stock is currently owned by institutional investors and hedge funds.
Kemet Corporation (KEM) traded down $0.12 during midday trading on Wednesday, reaching $14.61. 1,425,000 shares of the company’s stock traded hands, compared to its average volume of 1,484,901. 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 has a 12 month low of $5.78 and a 12 month high of $27.35. The firm has a market cap of $830.50, a PE ratio of 15.19 and a beta of 3.44.
Kemet (NYSE:KEM) last posted its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The company had revenue of $301.47 million during the quarter, compared to analysts’ expectations of $298.51 million. During the same quarter in the previous year, the business posted $0.13 EPS. The firm’s revenue was up 60.9% on a year-over-year basis. sell-side analysts predict that Kemet Corporation will post 1.44 earnings per share for the current year.
In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $8,410,451.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.88% of the company’s stock.
KEM has been the subject of a number of research reports. BidaskClub cut shares of Kemet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. ValuEngine upgraded shares of Kemet from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Kemet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. B. Riley restated a “buy” rating and issued a $27.50 price objective on shares of Kemet in a report on Tuesday, October 31st. Finally, TheStreet cut shares of Kemet from a “b” rating to a “c” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.50.
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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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