KEMET Co. (NYSE:KEM) Holdings Boosted by First Trust Advisors LP
First Trust Advisors LP grew its holdings in KEMET Co. (NYSE:KEM) by 154.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 204,861 shares of the electronics maker’s stock after purchasing an additional 124,206 shares during the quarter. First Trust Advisors LP’s holdings in KEMET were worth $3,476,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Mackenzie Financial Corp boosted its stake in KEMET by 4.9% in the fourth quarter. Mackenzie Financial Corp now owns 12,612 shares of the electronics maker’s stock worth $221,000 after purchasing an additional 585 shares in the last quarter. Arizona State Retirement System boosted its stake in KEMET by 0.8% in the first quarter. Arizona State Retirement System now owns 89,144 shares of the electronics maker’s stock worth $1,513,000 after purchasing an additional 681 shares in the last quarter. Mason Street Advisors LLC boosted its stake in KEMET by 4.0% in the first quarter. Mason Street Advisors LLC now owns 18,559 shares of the electronics maker’s stock worth $315,000 after purchasing an additional 720 shares in the last quarter. Bank of Montreal Can raised its position in shares of KEMET by 51.0% during the fourth quarter. Bank of Montreal Can now owns 2,550 shares of the electronics maker’s stock worth $44,000 after acquiring an additional 861 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its position in shares of KEMET by 6.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 14,515 shares of the electronics maker’s stock worth $246,000 after acquiring an additional 864 shares during the last quarter. 80.55% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on KEM. ValuEngine downgraded KEMET from a “hold” rating to a “sell” rating in a research report on Tuesday, June 11th. B. Riley restated a “buy” rating and set a $26.00 target price (up previously from $24.00) on shares of KEMET in a research report on Thursday, May 9th. Finally, Zacks Investment Research downgraded KEMET from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd.
KEMET (NYSE:KEM) last released its earnings results on Thursday, May 16th. The electronics maker reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. The company had revenue of $355.79 million during the quarter, compared to the consensus estimate of $341.19 million. KEMET had a return on equity of 36.66% and a net margin of 14.94%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, equities research analysts predict that KEMET Co. will post 2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 30th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.21%. KEMET’s payout ratio is currently 5.93%.
In related news, SVP Ronald James Assaf sold 3,334 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $18.01, for a total value of $60,045.34. Following the completion of the sale, the senior vice president now owns 62,611 shares in the company, valued at $1,127,624.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shignori Oyama sold 3,102 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $16.88, for a total value of $52,361.76. Following the completion of the sale, the vice president now owns 142,473 shares of the company’s stock, valued at approximately $2,404,944.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,103 shares of company stock valued at $232,446. 2.95% of the stock is currently owned by corporate insiders.
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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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