Raymond James Financial Services Advisors Inc. Acquires New Holdings in Kemet Corporation (KEM)
Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Kemet Corporation (NYSE:KEM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 13,848 shares of the electronics maker’s stock, valued at approximately $177,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Globeflex Capital L P purchased a new stake in shares of Kemet Corporation during the 2nd quarter valued at $105,000. JPMorgan Chase & Co. purchased a new position in Kemet Corporation in the 2nd quarter worth $125,000. UBS Asset Management Americas Inc. purchased a new position in Kemet Corporation in the 2nd quarter worth $143,000. Legal & General Group Plc purchased a new position in Kemet Corporation in the 2nd quarter worth $147,000. Finally, Pacad Investment Ltd. purchased a new position in Kemet Corporation in the 2nd quarter worth $187,000. Hedge funds and other institutional investors own 59.57% of the company’s stock.
Kemet Corporation (NYSE:KEM) opened at $15.48 on Wednesday. The stock has a market capitalization of $884.06, a price-to-earnings ratio of 16.17 and a beta of 3.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.51 and a quick ratio of 1.73. Kemet Corporation has a 52 week low of $4.15 and a 52 week high of $27.35.
Kemet Corporation (NYSE:KEM) last released its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The business had revenue of $301.47 million during the quarter, compared to analyst estimates of $298.51 million. Kemet Corporation had a return on equity of 21.07% and a net margin of 31.16%. The company’s revenue was up 60.9% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. analysts forecast that Kemet Corporation will post 1.44 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on KEM. B. Riley restated a “buy” rating and issued a $24.25 target price on shares of Kemet Corporation in a research note on Tuesday, August 8th. BidaskClub lowered Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus restated a “hold” rating on shares of Kemet Corporation in a research note on Monday, August 7th. ValuEngine lowered Kemet Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, TheStreet upgraded Kemet Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.50.
In other Kemet Corporation news, CFO William M. Lowe, Jr. sold 21,903 shares of Kemet Corporation 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 completion of the transaction, the chief financial officer now owns 523,038 shares in the company, valued at approximately $8,410,451.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank G. Brandenberg sold 11,525 shares of Kemet Corporation stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $23.12, for a total value of $266,458.00. Following the transaction, the director now owns 66,831 shares of the company’s stock, valued at approximately $1,545,132.72. The disclosure for this sale can be found here. Insiders have sold a total of 34,428 shares of company stock valued at $640,968 in the last quarter. Company insiders own 3.88% of the company’s stock.
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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