UBS Group AG boosted its position in Kemet Corporation (NYSE:KEM) by 781.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,459 shares of the electronics maker’s stock after buying an additional 30,550 shares during the period. UBS Group AG owned approximately 0.07% of Kemet Corporation worth $414,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Founders Capital Management purchased a new stake in shares of Kemet Corporation during the first quarter worth $108,000. Geode Capital Management LLC increased its stake in shares of Kemet Corporation by 4.5% in the first quarter. Geode Capital Management LLC now owns 270,484 shares of the electronics maker’s stock worth $3,245,000 after buying an additional 11,748 shares during the period. TFS Capital LLC purchased a new stake in shares of Kemet Corporation during the first quarter worth $184,000. Vanguard Group Inc. increased its stake in shares of Kemet Corporation by 1.1% in the first quarter. Vanguard Group Inc. now owns 1,545,151 shares of the electronics maker’s stock worth $18,542,000 after buying an additional 16,236 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Kemet Corporation by 64.8% in the first quarter. Russell Investments Group Ltd. now owns 60,690 shares of the electronics maker’s stock worth $728,000 after buying an additional 23,870 shares during the period. 57.65% of the stock is owned by institutional investors.
Kemet Corporation (NYSE KEM) opened at 16.52 on Monday. Kemet Corporation has a 52 week low of $3.24 and a 52 week high of $17.89. The company has a 50-day moving average of $14.58 and a 200 day moving average of $11.71. The company has a market cap of $784.78 million, a P/E ratio of 18.99 and a beta of 3.54.
Kemet Corporation (NYSE:KEM) last issued its quarterly earnings data on Wednesday, May 10th. The electronics maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The company had revenue of $197.52 million during the quarter, compared to analysts’ expectations of $191.73 million. Kemet Corporation had a net margin of 6.33% and a return on equity of 19.23%. Kemet Corporation’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, equities analysts forecast that Kemet Corporation will post $0.97 EPS for the current fiscal year.
A number of analysts have recently weighed in on the stock. BidaskClub raised shares of Kemet Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. B. Riley reaffirmed a “buy” rating and set a $17.00 price target on shares of Kemet Corporation in a report on Monday, May 15th. Stifel Nicolaus reaffirmed a “hold” rating and set a $12.00 price target on shares of Kemet Corporation in a report on Friday, July 14th. Finally, Zacks Investment Research raised shares of Kemet Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, May 4th.
In other Kemet Corporation news, CFO William M. Lowe, Jr. sold 68,422 shares of Kemet Corporation stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $14.36, for a total transaction of $982,539.92. Following the completion of the sale, the chief financial officer now directly owns 616,035 shares in the company, valued at $8,846,262.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Claudio Lollini sold 9,500 shares of Kemet Corporation stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $14.20, for a total transaction of $134,900.00. Following the sale, the vice president now owns 184,168 shares of the company’s stock, valued at $2,615,185.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 326,256 shares of company stock valued at $4,516,065. 3.88% of the stock is currently owned by company insiders.
Kemet Corporation Company Profile
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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