BNP Paribas Arbitrage SA Purchases 20,755 Shares of Kemet Corporation (KEM)
BNP Paribas Arbitrage SA boosted its position in Kemet Corporation (NYSE:KEM) by 327.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,084 shares of the electronics maker’s stock after acquiring an additional 20,755 shares during the period. BNP Paribas Arbitrage SA’s holdings in Kemet were worth $572,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Kemet by 59.8% in the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock valued at $48,500,000 after acquiring an additional 1,418,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kemet by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock worth $38,503,000 after buying an additional 179,841 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Kemet by 13.1% during the second quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock worth $22,374,000 after buying an additional 202,892 shares during the last quarter. Numeric Investors LLC boosted its holdings in Kemet by 1,622.5% during the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock worth $14,221,000 after buying an additional 1,046,539 shares during the last quarter. Finally, State Street Corp boosted its holdings in Kemet by 1,972.6% during the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock worth $9,606,000 after buying an additional 714,335 shares during the last quarter. Institutional investors and hedge funds own 69.90% of the company’s stock.
KEM has been the topic of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $27.50 target price on shares of Kemet in a report on Tuesday, October 31st. ValuEngine upgraded Kemet from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut Kemet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. TheStreet cut Kemet from a “b” rating to a “c” rating in a report on Thursday, November 2nd. Finally, Zacks Investment Research cut Kemet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.50.
Shares of Kemet Corporation (NYSE KEM) traded up $0.28 on Friday, reaching $14.48. The company’s stock had a trading volume of 2,411,700 shares, compared to its average volume of 1,485,469. The company has a market capitalization of $816.41, a PE ratio of 14.64 and a beta of 3.44. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.73 and a current ratio of 2.51. Kemet Corporation has a 12-month low of $5.78 and a 12-month high of $27.35.
Kemet (NYSE:KEM) last released its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The company had revenue of $301.47 million for the quarter, compared to analyst estimates of $298.51 million. Kemet had a return on equity of 21.07% and a net margin of 31.16%. Kemet’s revenue was up 60.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. equities analysts expect that Kemet Corporation will post 1.44 earnings per share for the current fiscal year.
In other news, CFO William M. Lowe, Jr. sold 21,903 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total transaction of $352,200.24. Following the sale, the chief financial officer now owns 523,038 shares of the company’s stock, valued at $8,410,451.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.88% of the company’s stock.
Kemet 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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