Kemet Corporation (KEM) Stake Lowered by B. Riley Financial Inc.
B. Riley Financial Inc. lessened its holdings in shares of Kemet Corporation (NYSE:KEM) by 18.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 430,296 shares of the electronics maker’s stock after selling 95,562 shares during the period. Kemet Corporation makes up about 1.5% of B. Riley Financial Inc.’s portfolio, making the stock its 8th biggest holding. B. Riley Financial Inc. owned about 0.90% of Kemet Corporation worth $5,508,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of KEM. Russell Investments Group Ltd. raised its stake in Kemet Corporation by 64.8% in the 1st quarter. Russell Investments Group Ltd. now owns 60,690 shares of the electronics maker’s stock worth $728,000 after acquiring an additional 23,870 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Kemet Corporation by 217.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 52,255 shares of the electronics maker’s stock worth $627,000 after acquiring an additional 35,789 shares during the last quarter. Trexquant Investment LP purchased a new position in Kemet Corporation in the 1st quarter worth $386,000. SG Americas Securities LLC purchased a new position in Kemet Corporation in the 1st quarter worth $314,000. Finally, Spark Investment Management LLC raised its stake in Kemet Corporation by 42.0% in the 1st quarter. Spark Investment Management LLC now owns 298,700 shares of the electronics maker’s stock worth $3,584,000 after acquiring an additional 88,400 shares during the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.
Kemet Corporation (NYSE:KEM) last announced its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. The firm had revenue of $274.00 million during the quarter, compared to analysts’ expectations of $282.52 million. During the same period in the previous year, the company earned $0.06 earnings per share. Kemet Corporation’s quarterly revenue was up 48.2% compared to the same quarter last year.
KEM has been the subject of a number of research analyst reports. Zacks Investment Research lowered Kemet Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub upgraded Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and issued a $12.00 target price on shares of Kemet Corporation in a research note on Friday, July 14th. B. Riley restated a “buy” rating and issued a $20.00 target price on shares of Kemet Corporation in a research note on Friday, July 28th. Finally, TheStreet upgraded Kemet Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $18.08.
In other news, VP Stefano Vetralla sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $18.70, for a total value of $168,300.00. Following the completion of the sale, the vice president now directly owns 51,611 shares of the company’s stock, valued at $965,125.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles C. Meeks, Jr. sold 30,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $18.89, for a total transaction of $566,700.00. Following the completion of the sale, the insider now directly owns 259,781 shares of the company’s stock, valued at $4,907,263.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,859 shares of company stock valued at $1,598,660. 3.88% of the stock is owned by corporate insiders.
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Kemet Corporation 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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