Renaissance Technologies LLC cut its stake in KEMET Co. (NYSE:KEM) by 29.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,880,200 shares of the electronics maker’s stock after selling 1,203,699 shares during the quarter. Renaissance Technologies LLC owned approximately 5.09% of KEMET worth $43,376,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. AXA lifted its holdings in KEMET by 349.6% in the fourth quarter. AXA now owns 296,700 shares of the electronics maker’s stock valued at $4,468,000 after acquiring an additional 230,701 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of KEMET during the 4th quarter worth approximately $1,226,000. Geode Capital Management LLC raised its stake in shares of KEMET by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 415,114 shares of the electronics maker’s stock worth $6,251,000 after buying an additional 31,059 shares during the period. Lazard Asset Management LLC raised its stake in shares of KEMET by 6.5% during the 4th quarter. Lazard Asset Management LLC now owns 503,936 shares of the electronics maker’s stock worth $7,589,000 after buying an additional 30,607 shares during the period. Finally, Investors Research Corp acquired a new position in shares of KEMET during the 4th quarter worth approximately $267,000. 70.14% of the stock is owned by institutional investors.
Shares of KEM stock traded down $0.18 during trading hours on Friday, hitting $17.30. 1,172,621 shares of the company’s stock were exchanged, compared to its average volume of 846,127. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.49 and a quick ratio of 1.74. The company has a market cap of $979.27, a price-to-earnings ratio of 49.43 and a beta of 3.62. KEMET Co. has a fifty-two week low of $10.79 and a fifty-two week high of $27.35.
KEMET (NYSE:KEM) last issued its quarterly earnings results on Thursday, February 1st. The electronics maker reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.16. KEMET had a return on equity of 22.51% and a net margin of 28.33%. The firm had revenue of $306.40 million during the quarter, compared to analysts’ expectations of $295.68 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 63.0% on a year-over-year basis. analysts anticipate that KEMET Co. will post 1.62 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on KEM. B. Riley reaffirmed a “buy” rating and set a $22.50 target price on shares of KEMET in a research note on Monday, January 22nd. Zacks Investment Research raised KEMET from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research note on Wednesday, January 24th. Finally, ValuEngine raised KEMET from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.58.
In related news, Director Joseph Vincent Borruso sold 20,332 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $20.00, for a total transaction of $406,640.00. Following the completion of the sale, the director now directly owns 70,134 shares in the company, valued at $1,402,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles C. Meeks, Jr. sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $18.13, for a total value of $362,600.00. Following the completion of the sale, the insider now owns 218,310 shares of the company’s stock, valued at $3,957,960.30. The disclosure for this sale can be found here. Insiders have sold 165,531 shares of company stock valued at $3,036,021 over the last quarter. 3.88% of the stock is owned by company insiders.
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KEMET Corporation, together with its subsidiaries, manufactures and sells passive electronic components under the KEMET brand worldwide and the TOKIN brand in Japan and Korea. The company operates through three segments: Solid Capacitors; Film and Electrolytics; and Electro-magnetic, Sensors & Actuators.
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