Dimensional Fund Advisors LP trimmed its holdings in shares of Kemet Corporation (NYSE:KEM) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,672,662 shares of the electronics maker’s stock after selling 335,370 shares during the period. Dimensional Fund Advisors LP owned 4.74% of Kemet worth $56,474,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in shares of Kemet by 59.8% during the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock worth $48,500,000 after buying an additional 1,418,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Kemet by 13.1% in the second quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock valued at $22,374,000 after purchasing an additional 202,892 shares in the last quarter. Numeric Investors LLC increased its stake in Kemet by 1,622.5% in the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock valued at $14,221,000 after purchasing an additional 1,046,539 shares in the last quarter. State Street Corp increased its stake in Kemet by 1,972.6% in the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock valued at $9,606,000 after purchasing an additional 714,335 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Kemet by 289.2% in the third quarter. Bank of New York Mellon Corp now owns 626,776 shares of the electronics maker’s stock valued at $13,243,000 after purchasing an additional 465,727 shares in the last quarter. 69.79% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on KEM. B. Riley restated a “buy” rating and set a $27.50 target price on shares of Kemet in a report on Tuesday, October 31st. TheStreet cut shares of Kemet from a “b” rating to a “c” rating in a report on Thursday, November 2nd. Zacks Investment Research cut shares of Kemet from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Finally, ValuEngine cut shares of Kemet from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Kemet has an average rating of “Hold” and a consensus target price of $22.50.
Shares of Kemet Corporation (NYSE KEM) traded up $0.16 on Wednesday, hitting $16.33. 570,525 shares of the stock traded hands, compared to its average volume of 1,103,750. The company has a market capitalization of $922.97, a price-to-earnings ratio of 3.32 and a beta of 3.45. Kemet Corporation has a 52 week low of $6.29 and a 52 week high of $27.35. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.51 and a quick ratio of 1.73.
Kemet (NYSE:KEM) last released its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The business had revenue of $301.47 million for the quarter, compared to analyst estimates of $298.51 million. During the same period last year, the firm earned $0.13 earnings per share. Kemet’s revenue for the quarter was up 60.9% compared to the same quarter last year. sell-side analysts expect that Kemet Corporation will post 1.44 EPS for the current year.
In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total transaction of $352,200.24. Following the sale, the chief financial officer now directly owns 523,038 shares in the company, valued at $8,410,451.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.88% of the company’s stock.
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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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