KEMET (KEM) Shares Down 6.2% on Insider Selling
KEMET Co. (NYSE:KEM)’s share price traded down 6.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $20.02 and last traded at $20.50. 1,743,210 shares traded hands during trading, an increase of 50% from the average session volume of 1,160,454 shares. The stock had previously closed at $21.85.
Specifically, SVP Ronald James Assaf sold 3,333 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $21.39, for a total value of $71,292.87. Following the sale, the senior vice president now owns 80,556 shares of the company’s stock, valued at $1,723,092.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 9,999 shares of company stock worth $205,379. 2.95% of the stock is currently owned by insiders.
Several analysts have weighed in on the stock. ValuEngine cut shares of KEMET from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. Zacks Investment Research raised shares of KEMET from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, November 7th. Finally, Macquarie assumed coverage on shares of KEMET in a research note on Monday, October 8th. They set an “outperform” rating on the stock.
KEMET (NYSE:KEM) last issued its quarterly earnings data on Tuesday, October 30th. The electronics maker reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.27. The firm had revenue of $349.20 million for the quarter, compared to analysts’ expectations of $335.56 million. KEMET had a net margin of 7.18% and a return on equity of 27.21%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that KEMET Co. will post 3.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Shareholders of record on Friday, November 16th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $0.20 annualized dividend and a yield of 0.98%. KEMET’s dividend payout ratio is 12.35%.
A number of institutional investors have recently modified their holdings of KEM. Meeder Asset Management Inc. grew its stake in KEMET by 2,554.3% during the third quarter. Meeder Asset Management Inc. now owns 6,158 shares of the electronics maker’s stock worth $113,000 after buying an additional 5,926 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of KEMET by 175.0% during the third quarter. Tower Research Capital LLC TRC now owns 6,547 shares of the electronics maker’s stock worth $122,000 after purchasing an additional 4,166 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of KEMET during the third quarter worth approximately $172,000. Canada Pension Plan Investment Board lifted its position in shares of KEMET by 74.6% during the third quarter. Canada Pension Plan Investment Board now owns 10,300 shares of the electronics maker’s stock worth $191,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of KEMET during the third quarter worth approximately $209,000. 79.72% of the stock is currently owned by hedge funds and other institutional investors.
About KEMET (NYSE:KEM)
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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