Trust Investment Advisors Buys New Holdings in Kimball Electronics, Inc. (KE)
Trust Investment Advisors bought a new stake in Kimball Electronics, Inc. (NASDAQ:KE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 66,000 shares of the electronics maker’s stock, valued at approximately $1,429,000. Kimball Electronics comprises approximately 1.6% of Trust Investment Advisors’ holdings, making the stock its 12th largest holding. Trust Investment Advisors owned 0.25% of Kimball Electronics at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. AJO LP purchased a new position in Kimball Electronics during the second quarter worth about $3,879,000. Renaissance Technologies LLC raised its holdings in Kimball Electronics by 44.0% during the first quarter. Renaissance Technologies LLC now owns 350,575 shares of the electronics maker’s stock worth $5,942,000 after purchasing an additional 107,200 shares in the last quarter. LSV Asset Management raised its holdings in Kimball Electronics by 280.4% during the second quarter. LSV Asset Management now owns 491,983 shares of the electronics maker’s stock worth $8,880,000 after purchasing an additional 362,655 shares in the last quarter. Vanguard Group Inc. raised its holdings in Kimball Electronics by 5.1% during the first quarter. Vanguard Group Inc. now owns 1,145,146 shares of the electronics maker’s stock worth $19,410,000 after purchasing an additional 56,057 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Kimball Electronics by 37.5% during the second quarter. Russell Investments Group Ltd. now owns 257,116 shares of the electronics maker’s stock worth $4,641,000 after purchasing an additional 70,182 shares in the last quarter. 55.89% of the stock is owned by institutional investors and hedge funds.
KE has been the subject of several analyst reports. BidaskClub cut shares of Kimball Electronics from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. ValuEngine lowered shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd.
Kimball Electronics, Inc. (NASDAQ:KE) traded up $0.35 during mid-day trading on Tuesday, hitting $19.95. 57,400 shares of the stock traded hands, compared to its average volume of 79,565. The firm has a market capitalization of $526.04, a price-to-earnings ratio of 16.47 and a beta of 1.01. Kimball Electronics, Inc. has a twelve month low of $15.05 and a twelve month high of $22.45.
Kimball Electronics (NASDAQ:KE) last released its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $0.31 EPS for the quarter. The business had revenue of $253.20 million for the quarter. Kimball Electronics had a net margin of 3.40% and a return on equity of 9.63%.
Kimball Electronics announced that its Board of Directors has initiated a share buyback program on Thursday, August 24th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 42% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Kimball Electronics Profile
Kimball Electronics, Inc (Kimball Electronics) is an electronics manufacturing services (EMS) company. The Company is engaged in producing electronics for the automotive, medical, industrial and public safety markets. It provides design, engineering, manufacturing, packaging and distribution of electronic assemblies and circuit boards on a contract basis to a range of industries.
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