Municipal Employees Retirement System of Michigan Buys New Position in Kemet Corporation (NYSE:KEM)
Municipal Employees Retirement System of Michigan bought a new stake in Kemet Corporation (NYSE:KEM) during the second quarter, Holdings Channel reports. The firm bought 67,130 shares of the electronics maker’s stock, valued at approximately $859,000.
A number of other large investors also recently modified their holdings of KEM. Mckinley Capital Management LLC Delaware bought a new stake in shares of Kemet Corporation during the first quarter valued at $2,815,000. SG Americas Securities LLC bought a new stake in shares of Kemet Corporation during the first quarter valued at $314,000. Founders Capital Management bought a new stake in shares of Kemet Corporation during the first quarter valued at $108,000. Alambic Investment Management L.P. raised its stake in shares of Kemet Corporation by 175.6% in the first quarter. Alambic Investment Management L.P. now owns 72,753 shares of the electronics maker’s stock valued at $873,000 after buying an additional 46,352 shares in the last quarter. Finally, Oxford Asset Management raised its stake in shares of Kemet Corporation by 42.0% in the first quarter. Oxford Asset Management now owns 229,599 shares of the electronics maker’s stock valued at $2,755,000 after buying an additional 67,943 shares in the last quarter. 55.72% of the stock is currently owned by hedge funds and other institutional investors.
Kemet Corporation (NYSE KEM) opened at 19.45 on Monday. Kemet Corporation has a one year low of $3.24 and a one year high of $19.79. The stock’s 50 day moving average price is $15.89 and its 200-day moving average price is $12.48. The firm has a market capitalization of $927.65 million, a price-to-earnings ratio of 4.03 and a beta of 3.60.
Kemet Corporation (NYSE:KEM) last issued its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.15. Kemet Corporation had a return on equity of 20.21% and a net margin of 33.25%. The firm had revenue of $274 million during the quarter, compared to the consensus estimate of $282.52 million. During the same quarter in the previous year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. On average, equities research analysts anticipate that Kemet Corporation will post $1.57 earnings per share for the current fiscal year.
A number of brokerages have recently commented on KEM. B. Riley reissued a “buy” rating and set a $24.25 price target on shares of Kemet Corporation in a report on Tuesday, August 8th. BidaskClub raised Kemet Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Stifel Nicolaus reissued a “hold” rating on shares of Kemet Corporation in a report on Monday, August 7th. TheStreet raised Kemet Corporation from a “c+” rating to a “b” rating in a 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 on the stock in a report on Friday, July 14th. One analyst has rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.08.
In other Kemet Corporation news, CEO Per Olof Loof sold 133,334 shares of Kemet Corporation stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $13.13, for a total value of $1,750,675.42. Following the completion of the transaction, the chief executive officer now owns 1,101,976 shares in the company, valued at approximately $14,468,944.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Claudio Lollini sold 9,500 shares of Kemet Corporation stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $14.20, for a total value of $134,900.00. Following the completion of the transaction, the vice president now owns 184,168 shares of the company’s stock, valued at approximately $2,615,185.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,168 shares of company stock valued at $2,786,067. Corporate insiders own 3.88% of the company’s stock.
About Kemet Corporation
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.
Want to see what other hedge funds are holding KEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kemet Corporation (NYSE:KEM).
Receive News & Ratings for Kemet Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kemet Corporation and related companies with MarketBeat.com's FREE daily email newsletter.