Insider Selling: Kemet Corporation (NYSE:KEM) SVP Sells 9,334 Shares of Stock
Kemet Corporation (NYSE:KEM) SVP Ronald James Assaf sold 9,334 shares of Kemet Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $17.73, for a total transaction of $165,491.82. Following the completion of the transaction, the senior vice president now directly owns 114,225 shares in the company, valued at $2,025,209.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Kemet Corporation (NYSE KEM) traded up 7.98% on Monday, reaching $18.95. 2,300,622 shares of the company were exchanged. Kemet Corporation has a 12 month low of $3.24 and a 12 month high of $19.15. The stock has a 50 day moving average price of $14.79 and a 200-day moving average price of $11.93. The stock has a market capitalization of $901.79 million, a P/E ratio of 3.91 and a beta of 3.60.
Kemet Corporation (NYSE:KEM) last posted its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. Kemet Corporation had a return on equity of 32.96% and a net margin of 33.25%. The business had revenue of $274 million during the quarter, compared to analysts’ expectations of $282.52 million. During the same period in the prior year, the business earned $0.06 EPS. Kemet Corporation’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, equities analysts expect that Kemet Corporation will post $1.57 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. Morgan Stanley boosted its stake in Kemet Corporation by 117.6% in the first quarter. Morgan Stanley now owns 647,649 shares of the electronics maker’s stock worth $7,771,000 after buying an additional 350,056 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Kemet Corporation during the fourth quarter worth about $247,000. Dimensional Fund Advisors LP boosted its stake in Kemet Corporation by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,426,049 shares of the electronics maker’s stock worth $16,085,000 after buying an additional 265,310 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Kemet Corporation by 78.0% in the second quarter. Acadian Asset Management LLC now owns 259,279 shares of the electronics maker’s stock worth $3,318,000 after buying an additional 113,620 shares during the last quarter. Finally, Dialectic Capital Management LP acquired a new stake in Kemet Corporation during the first quarter worth about $501,000. 56.85% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on KEM shares. Zacks Investment Research raised shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Friday, July 14th. TheStreet raised shares of Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus lifted their target price on shares of Kemet Corporation from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Tuesday, May 2nd. BidaskClub downgraded shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, B. Riley reissued a “buy” rating and issued a $24.25 target price on shares of Kemet Corporation in a research report on Thursday. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Kemet Corporation has an average rating of “Buy” and an average target price of $18.08.
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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