Sei Investments Co. grew its stake in Kemet Corporation (NYSE:KEM) by 86.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,601 shares of the electronics maker’s stock after buying an additional 7,682 shares during the period. Sei Investments Co.’s holdings in Kemet were worth $351,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its holdings in shares of Kemet by 327.9% in the third quarter. BNP Paribas Arbitrage SA now owns 27,084 shares of the electronics maker’s stock worth $572,000 after buying an additional 20,755 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Kemet in the third quarter worth $489,000. Swiss National Bank raised its holdings in shares of Kemet by 25.8% in the third quarter. Swiss National Bank now owns 82,900 shares of the electronics maker’s stock worth $1,752,000 after buying an additional 17,000 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Kemet in the third quarter worth $8,015,000. Finally, Smith Asset Management Group LP raised its holdings in shares of Kemet by 686.7% in the third quarter. Smith Asset Management Group LP now owns 179,450 shares of the electronics maker’s stock worth $3,792,000 after buying an additional 156,640 shares during the last quarter. 69.90% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on KEM. ValuEngine raised shares of Kemet from a “hold” rating to a “buy” rating in a report on Friday, September 1st. B. Riley reissued a “buy” rating and set a $27.50 target price on shares of Kemet in a report on Tuesday, October 31st. Zacks Investment Research raised shares of Kemet from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Friday, October 6th. BidaskClub cut shares of Kemet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, TheStreet cut shares of Kemet from a “b” rating to a “c” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $22.50.
Kemet (NYSE:KEM) last issued its earnings results on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $301.47 million during the quarter, compared to analysts’ expectations of $298.51 million. During the same quarter last year, the company posted $0.13 earnings per share. The firm’s revenue was up 60.9% compared to the same quarter last year. analysts predict that Kemet Corporation will post 1.44 earnings per share for the current fiscal year.
In related news, CFO William M. Lowe, Jr. sold 21,903 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total transaction of $352,200.24. Following the completion of the transaction, the chief financial officer now owns 523,038 shares of the company’s stock, valued at $8,410,451.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.88% of the company’s stock.
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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