Prudential Financial Inc. Invests $1.87 Million in Kemet Corporation (KEM) Stock

Prudential Financial Inc. purchased a new position in shares of Kemet Corporation (NYSE:KEM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 88,655 shares of the electronics maker’s stock, valued at approximately $1,873,000. Prudential Financial Inc. owned 0.19% of Kemet as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Advisors LLC acquired a new position in Kemet during the second quarter worth approximately $1,039,000. NJ State Employees Deferred Compensation Plan acquired a new position in Kemet during the third quarter worth approximately $845,000. Alliancebernstein L.P. acquired a new position in Kemet during the second quarter worth approximately $694,000. IFP Advisors Inc acquired a new position in Kemet during the third quarter worth approximately $459,000. Finally, Dimensional Fund Advisors LP increased its position in Kemet by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock worth $38,503,000 after buying an additional 179,841 shares during the period. 69.90% of the stock is currently owned by institutional investors.

Shares of Kemet Corporation (KEM) traded up $0.53 during mid-day trading on Wednesday, hitting $14.88. The company’s stock had a trading volume of 530,619 shares, compared to its average volume of 1,476,415. Kemet Corporation has a one year low of $5.78 and a one year high of $27.35. The stock has a market cap of $829.94, a P/E ratio of 15.18 and a beta of 3.44. 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 (NYSE:KEM) last announced its earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. Kemet had a return on equity of 21.07% and a net margin of 31.16%. 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 business posted $0.13 EPS. The company’s revenue was up 60.9% on a year-over-year basis. research analysts expect that Kemet Corporation will post 1.44 EPS for the current year.

In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of Kemet stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total value of $352,200.24. Following the transaction, the chief financial officer now directly owns 523,038 shares in the company, valued at approximately $8,410,451.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.88% of the company’s stock.

Several research firms have commented on KEM. Zacks Investment Research lowered Kemet from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded Kemet from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. TheStreet downgraded Kemet from a “b” rating to a “c” rating in a research note on Thursday, November 2nd. B. Riley reiterated a “buy” rating and issued a $27.50 target price on shares of Kemet in a research note on Tuesday, October 31st. Finally, BidaskClub downgraded Kemet from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.50.

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About Kemet

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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Institutional Ownership by Quarter for Kemet (NYSE:KEM)

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