Acadian Asset Management LLC Has $3.32 Million Position in Kemet Corporation (NYSE:KEM)

Acadian Asset Management LLC raised its position in shares of Kemet Corporation (NYSE:KEM) by 78.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 259,279 shares of the electronics maker’s stock after buying an additional 113,620 shares during the period. Acadian Asset Management LLC owned 0.55% of Kemet Corporation worth $3,318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Founders Capital Management purchased a new position in shares of Kemet Corporation during the first quarter worth approximately $108,000. TFS Capital LLC purchased a new position in shares of Kemet Corporation during the first quarter worth approximately $184,000. Caxton Associates LP purchased a new position in shares of Kemet Corporation during the first quarter worth approximately $263,000. SG Americas Securities LLC purchased a new position in shares of Kemet Corporation during the first quarter worth approximately $314,000. Finally, Trexquant Investment LP purchased a new position in shares of Kemet Corporation during the first quarter worth approximately $386,000. 57.65% of the stock is owned by institutional investors and hedge funds.

Shares of Kemet Corporation (KEM) traded up 4.09% on Friday, hitting $17.55. 1,297,500 shares of the stock were exchanged. The stock’s 50-day moving average is $14.79 and its 200-day moving average is $11.93. Kemet Corporation has a 1-year low of $3.24 and a 1-year high of $17.94. The stock has a market cap of $835.17 million, a price-to-earnings ratio of 3.63 and a beta of 3.60.

Kemet Corporation (NYSE:KEM) last announced its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.15. The company had revenue of $274 million during the quarter, compared to the consensus estimate of $282.52 million. Kemet Corporation had a net margin of 33.25% and a return on equity of 32.96%. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. Analysts forecast that Kemet Corporation will post $1.57 earnings per share for the current year.

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A number of research analysts have recently commented on the stock. B. Riley reissued a “buy” rating and issued a $24.25 price objective on shares of Kemet Corporation in a research report on Thursday. TheStreet raised shares of Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday. BidaskClub downgraded shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research report on Friday, July 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Kemet Corporation from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.08.

In other news, VP Claudio Lollini sold 9,500 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $14.20, for a total value of $134,900.00. Following the completion of the sale, the vice president now owns 184,168 shares in the company, valued at $2,615,185.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charles C. Meeks, Jr. sold 115,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $14.33, for a total transaction of $1,647,950.00. Following the completion of the sale, the insider now owns 372,393 shares of the company’s stock, valued at approximately $5,336,391.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,256 shares of company stock valued at $4,516,065. 3.88% of the stock is currently owned by corporate insiders.

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.