LSV Asset Management Has $8.88 Million Position in Kimball Electronics, Inc. (KE)
LSV Asset Management increased its stake in Kimball Electronics, Inc. (NASDAQ:KE) by 280.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 491,983 shares of the electronics maker’s stock after buying an additional 362,655 shares during the quarter. LSV Asset Management owned about 1.83% of Kimball Electronics worth $8,880,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Advisors LLC lifted its position in Kimball Electronics by 18.8% in the fourth quarter. Teachers Advisors LLC now owns 53,382 shares of the electronics maker’s stock worth $972,000 after buying an additional 8,457 shares during the last quarter. US Bancorp DE lifted its position in Kimball Electronics by 0.5% in the first quarter. US Bancorp DE now owns 36,217 shares of the electronics maker’s stock worth $614,000 after buying an additional 169 shares during the last quarter. ClariVest Asset Management LLC lifted its position in Kimball Electronics by 46.1% in the first quarter. ClariVest Asset Management LLC now owns 87,654 shares of the electronics maker’s stock worth $1,486,000 after buying an additional 27,642 shares during the last quarter. Renaissance Technologies LLC lifted its position in Kimball Electronics by 44.0% in the first quarter. Renaissance Technologies LLC now owns 350,575 shares of the electronics maker’s stock worth $5,942,000 after buying an additional 107,200 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Kimball Electronics by 160.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 73,868 shares of the electronics maker’s stock worth $1,252,000 after buying an additional 45,554 shares during the last quarter. Institutional investors own 56.86% of the company’s stock.
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Separately, BidaskClub downgraded Kimball Electronics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th.
Shares of Kimball Electronics, Inc. (KE) opened at 21.10 on Friday. The stock’s 50 day moving average price is $19.07 and its 200 day moving average price is $17.69. The company has a market capitalization of $565.78 million, a P/E ratio of 17.02 and a beta of 0.98. Kimball Electronics, Inc. has a 52-week low of $12.00 and a 52-week high of $21.10.
Kimball Electronics (NASDAQ:KE) last issued its earnings results on Wednesday, August 2nd. The electronics maker reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The company had revenue of $241.27 million during the quarter. Kimball Electronics had a return on equity of 9.24% and a net margin of 3.67%. On average, equities research analysts forecast that Kimball Electronics, Inc. will post $0.93 earnings per share for the current fiscal year.
Kimball Electronics declared that its board has authorized a share repurchase program on Thursday, August 24th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the electronics maker to purchase up to 42% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is 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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