Los Angeles Capital Management & Equity Research Inc. Takes Position in Kemet Corporation (KEM)
Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Kemet Corporation (NYSE:KEM) during the third quarter, according to its most recent filing with the SEC. The firm purchased 42,972 shares of the electronics maker’s stock, valued at approximately $908,000. Los Angeles Capital Management & Equity Research Inc. owned 0.08% of Kemet at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Globeflex Capital L P acquired a new stake in Kemet during the 2nd quarter worth approximately $105,000. State of Tennessee Treasury Department acquired a new stake in Kemet during the 3rd quarter worth approximately $108,000. Denali Advisors LLC acquired a new stake in Kemet during the 3rd quarter worth approximately $122,000. JPMorgan Chase & Co. acquired a new stake in Kemet during the 2nd quarter worth approximately $125,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Kemet during the 2nd quarter worth approximately $143,000. Institutional investors and hedge funds own 69.78% of the company’s stock.
Kemet Corporation (NYSE KEM) traded up $0.62 during midday trading on Wednesday, hitting $17.00. 2,190,900 shares of the stock were exchanged, compared to its average volume of 1,455,732. The company has a quick ratio of 1.73, a current ratio of 2.51 and a debt-to-equity ratio of 0.75. Kemet Corporation has a 12 month low of $5.12 and a 12 month high of $27.35. The firm has a market capitalization of $958.49, a P/E ratio of 16.65 and a beta of 3.65.
Kemet (NYSE:KEM) last posted its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The company had revenue of $301.47 million for the quarter, compared to the consensus estimate of $298.51 million. During the same period last year, the company earned $0.13 earnings per share. The firm’s revenue was up 60.9% compared to the same quarter last year. sell-side analysts predict that Kemet Corporation will post 1.44 earnings per share for the current fiscal year.
In other news, CFO William M. Lowe, Jr. sold 21,903 shares of Kemet stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total value of $352,200.24. Following the sale, the chief financial officer now directly owns 523,038 shares in the company, valued at $8,410,451.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is owned by company insiders.
Several brokerages have commented on KEM. Zacks Investment Research upgraded shares of Kemet from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Friday, October 6th. B. Riley restated a “buy” rating and set a $24.25 target price on shares of Kemet in a report on Thursday, August 3rd. TheStreet upgraded shares of Kemet from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. BidaskClub upgraded shares of Kemet from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Finally, ValuEngine downgraded shares of Kemet from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Kemet has an average rating of “Hold” and a consensus target price of $22.50.
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Kemet 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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