Bank of New York Mellon Corp Grows Position in KEMET Co. (KEM)
Bank of New York Mellon Corp increased its position in KEMET Co. (NYSE:KEM) by 4.8% during the second quarter, HoldingsChannel.com reports. The fund owned 1,003,590 shares of the electronics maker’s stock after acquiring an additional 46,047 shares during the quarter. Bank of New York Mellon Corp’s holdings in KEMET were worth $24,237,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its position in shares of KEMET by 6.4% in the 2nd quarter. Rhumbline Advisers now owns 126,976 shares of the electronics maker’s stock worth $3,066,000 after buying an additional 7,662 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of KEMET in the 2nd quarter worth $253,000. Barings LLC purchased a new position in shares of KEMET in the 2nd quarter worth $1,360,000. Victory Capital Management Inc. raised its position in shares of KEMET by 2,118.0% in the 2nd quarter. Victory Capital Management Inc. now owns 133,368 shares of the electronics maker’s stock worth $3,220,000 after buying an additional 127,355 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of KEMET in the 2nd quarter worth $3,222,000. Institutional investors and hedge funds own 77.78% of the company’s stock.
In related news, CEO Per Olof Loof sold 10,000 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $25.40, for a total value of $254,000.00. Following the completion of the sale, the chief executive officer now directly owns 888,992 shares in the company, valued at approximately $22,580,396.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Ronald James Assaf sold 3,333 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $25.06, for a total value of $83,524.98. Following the completion of the sale, the senior vice president now owns 93,288 shares of the company’s stock, valued at $2,337,797.28. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by corporate insiders.
Shares of NYSE KEM opened at $20.08 on Friday. KEMET Co. has a 12-month low of $13.73 and a 12-month high of $29.85. The firm has a market capitalization of $1.21 billion, a P/E ratio of 12.92 and a beta of 3.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.44 and a quick ratio of 1.66.
KEMET (NYSE:KEM) last announced its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.08. KEMET had a return on equity of 23.78% and a net margin of 5.52%. The firm had revenue of $327.62 million during the quarter, compared to the consensus estimate of $318.22 million. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. analysts forecast that KEMET Co. will post 2.27 earnings per share for the current year.
KEMET Company Profile
KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.
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