Element Capital Management LLC Purchases New Position in KEMET Co. (KEM)

Element Capital Management LLC purchased a new position in shares of KEMET Co. (NYSE:KEM) in the first quarter, HoldingsChannel reports. The firm purchased 12,770 shares of the electronics maker’s stock, valued at approximately $232,000.

A number of other large investors have also modified their holdings of KEM. BlackRock Inc. lifted its stake in shares of KEMET by 1.2% in the 1st quarter. BlackRock Inc. now owns 6,624,430 shares of the electronics maker’s stock worth $120,101,000 after acquiring an additional 78,166 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of KEMET by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,204,775 shares of the electronics maker’s stock worth $58,103,000 after acquiring an additional 141,320 shares during the period. Nokomis Capital L.L.C. lifted its stake in shares of KEMET by 467.1% in the 4th quarter. Nokomis Capital L.L.C. now owns 1,337,442 shares of the electronics maker’s stock worth $20,142,000 after acquiring an additional 1,101,612 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of KEMET by 49.9% in the 4th quarter. Bank of New York Mellon Corp now owns 939,333 shares of the electronics maker’s stock worth $14,146,000 after acquiring an additional 312,557 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of KEMET by 13.6% in the 1st quarter. Wells Fargo & Company MN now owns 616,027 shares of the electronics maker’s stock worth $11,169,000 after acquiring an additional 73,590 shares during the period. Hedge funds and other institutional investors own 71.38% of the company’s stock.

Shares of KEMET opened at $24.55 on Tuesday, according to Marketbeat Ratings. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.66. KEMET Co. has a 52 week low of $12.60 and a 52 week high of $27.35. The stock has a market capitalization of $1.45 billion, a P/E ratio of 15.15 and a beta of 3.75.

KEMET (NYSE:KEM) last announced its quarterly earnings data on Thursday, May 17th. The electronics maker reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. KEMET had a net margin of 21.28% and a return on equity of 22.42%. The firm had revenue of $318.00 million during the quarter, compared to analysts’ expectations of $306.72 million. During the same quarter last year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was up 61.0% compared to the same quarter last year. research analysts anticipate that KEMET Co. will post 1.78 EPS for the current fiscal year.

In related news, CFO William M. Lowe, Jr. sold 18,900 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $18.47, for a total value of $349,083.00. Following the completion of the sale, the chief financial officer now owns 408,732 shares in the company, valued at $7,549,280.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Claudio Lollini sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $17.95, for a total transaction of $179,500.00. Following the completion of the sale, the vice president now owns 177,265 shares of the company’s stock, valued at approximately $3,181,906.75. The disclosure for this sale can be found here. Insiders sold 90,900 shares of company stock valued at $1,784,733 in the last quarter. Company insiders own 2.95% of the company’s stock.

KEM has been the subject of several recent analyst reports. Zacks Investment Research cut shares of KEMET from a “buy” rating to a “hold” rating in a research note on Thursday, April 5th. ValuEngine cut shares of KEMET from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.58.

KEMET Profile

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.

Want to see what other hedge funds are holding KEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KEMET Co. (NYSE:KEM).

Institutional Ownership by Quarter for KEMET (NYSE:KEM)

Receive News & Ratings for KEMET Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KEMET and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply