Bank of New York Mellon Corp raised its stake in shares of KEMET Co. (NYSE:KEM) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,003,590 shares of the electronics maker’s stock after acquiring an additional 46,047 shares during the period. Bank of New York Mellon Corp owned approximately 1.75% of KEMET worth $24,237,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in KEMET during the 1st quarter valued at approximately $109,000. Financial Gravity Wealth Inc. purchased a new stake in KEMET during the 1st quarter valued at approximately $143,000. AdvisorNet Financial Inc raised its stake in KEMET by 59.2% during the 1st quarter. AdvisorNet Financial Inc now owns 9,750 shares of the electronics maker’s stock valued at $177,000 after acquiring an additional 3,625 shares during the last quarter. Kessler Investment Group LLC purchased a new stake in KEMET during the 2nd quarter valued at approximately $181,000. Finally, 6 Meridian purchased a new stake in KEMET during the 1st quarter valued at approximately $188,000. 77.78% of the stock is owned by hedge funds and other institutional investors.
NYSE KEM opened at $20.08 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.66 and a current ratio of 2.44. KEMET Co. has a 12-month low of $13.73 and a 12-month high of $29.85. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 12.92 and a beta of 3.76.
KEMET (NYSE:KEM) last released its earnings results on Wednesday, July 25th. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.08. KEMET had a return on equity of 23.78% and a net margin of 5.52%. The company had revenue of $327.62 million for the quarter, compared to analysts’ expectations of $318.22 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. equities research analysts forecast that KEMET Co. will post 2.27 EPS for the current year.
In other KEMET news, SVP Ronald James Assaf sold 3,333 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $25.06, for a total transaction of $83,524.98. Following the transaction, the senior vice president now owns 93,288 shares in the company, valued at approximately $2,337,797.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Per Olof Loof sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $25.40, for a total value of $254,000.00. Following the transaction, the chief executive officer now owns 888,992 shares in the company, valued at approximately $22,580,396.80. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.
Several research firms have issued reports on KEM. ValuEngine cut KEMET from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. B. Riley boosted their target price on KEMET and gave the stock a “buy” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research upgraded KEMET from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, July 19th.
KEMET Company Profile
KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.
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