Kemet Corporation (NYSE:KEM) Insider Charles C. Meeks, Jr. Sells 30,000 Shares

Kemet Corporation (NYSE:KEM) insider Charles C. Meeks, Jr. sold 30,000 shares of Kemet Corporation stock in a transaction that occurred on 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 transaction, the insider now directly owns 259,781 shares in the company, valued at approximately $4,907,263.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Kemet Corporation (NYSE KEM) traded down 0.34% during trading on Friday, reaching $20.26. 1,028,381 shares of the company were exchanged. The company has a 50 day moving average price of $17.00 and a 200-day moving average price of $12.96. Kemet Corporation has a one year low of $3.24 and a one year high of $21.39. The stock has a market capitalization of $966.28 million, a price-to-earnings ratio of 4.20 and a beta of 3.60.

Kemet Corporation (NYSE:KEM) last released its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.15. The company had revenue of $274 million for the quarter, compared to analyst estimates of $282.52 million. Kemet Corporation had a return on equity of 20.21% and a net margin of 33.25%. Kemet Corporation’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Equities analysts predict that Kemet Corporation will post $1.57 EPS for the current year.

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A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. B. Riley reissued a “buy” rating and issued a $24.25 price target on shares of Kemet Corporation in a research report on Tuesday, August 8th. Stifel Nicolaus reissued a “hold” rating on shares of Kemet Corporation in a research report on Monday, August 7th. TheStreet raised shares of Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research report on Friday, July 14th. One research analyst has rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $18.08.

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Kemet Corporation by 59.8% in the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock valued at $48,500,000 after buying an additional 1,418,000 shares during the period. Numeric Investors LLC raised its stake in Kemet Corporation by 1,622.5% in the second quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock valued at $14,221,000 after buying an additional 1,046,539 shares during the period. State Street Corp raised its stake in Kemet Corporation by 1,972.6% in the second quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock valued at $9,606,000 after buying an additional 714,335 shares during the period. Hennessy Advisors Inc. acquired a new stake in Kemet Corporation during the first quarter valued at $5,894,000. Finally, Northern Trust Corp raised its stake in Kemet Corporation by 511.4% in the second quarter. Northern Trust Corp now owns 522,291 shares of the electronics maker’s stock valued at $6,685,000 after buying an additional 436,871 shares during the period. 55.72% of the stock is currently owned by institutional investors.

Kemet Corporation 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.

Insider Buying and Selling by Quarter for Kemet Corporation (NYSE:KEM)

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