Vanguard Group Inc. increased its stake in shares of Kemet Corporation (NYSE:KEM) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,545,151 shares of the electronics maker’s stock after buying an additional 16,236 shares during the period. Vanguard Group Inc. owned approximately 3.33% of Kemet Corporation worth $18,542,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. ClariVest Asset Management LLC acquired a new position in Kemet Corporation during the first quarter worth approximately $1,996,000. Spark Investment Management LLC raised its position in Kemet Corporation by 42.0% in the first quarter. Spark Investment Management LLC now owns 298,700 shares of the electronics maker’s stock worth $3,584,000 after buying an additional 88,400 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in Kemet Corporation during the first quarter worth approximately $2,815,000. SG Americas Securities LLC acquired a new position in Kemet Corporation during the first quarter worth approximately $314,000. Finally, Founders Capital Management acquired a new position in Kemet Corporation during the first quarter worth approximately $108,000. Institutional investors own 55.72% of the company’s stock.
Shares of Kemet Corporation (NYSE:KEM) traded down 1.63% on Friday, hitting $20.55. The stock had a trading volume of 527,097 shares. The company has a market cap of $980.11 million, a P/E ratio of 4.26 and a beta of 3.60. Kemet Corporation has a 52-week low of $3.24 and a 52-week high of $21.39. The company has a 50-day moving average of $17.68 and a 200-day moving average of $13.33.
Kemet Corporation (NYSE:KEM) last posted its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.15. The firm had revenue of $274 million during the quarter, compared to analysts’ expectations of $282.52 million. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The firm’s quarterly revenue was up 48.2% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. On average, equities analysts anticipate that Kemet Corporation will post $1.57 EPS for the current fiscal year.
A number of research analysts have commented on the company. B. Riley reaffirmed a “buy” rating and set a $24.25 price target on shares of Kemet Corporation in a research report on Thursday, August 3rd. BidaskClub raised Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Kemet Corporation in a research report on Monday, August 7th. TheStreet raised Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $18.08.
In other Kemet Corporation news, insider Charles C. Meeks, Jr. sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $18.89, for a total value of $566,700.00. Following the completion of the transaction, the insider now owns 259,781 shares of the company’s stock, valued at approximately $4,907,263.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stefano Vetralla sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $18.70, for a total transaction of $168,300.00. Following the completion of the transaction, the vice president now directly owns 51,611 shares of the company’s stock, valued at approximately $965,125.70. The disclosure for this sale can be found here. Insiders have sold a total of 68,334 shares of company stock valued at $1,309,892 in the last ninety days. 3.88% of the stock is currently owned by corporate 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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