Royce & Associates LP increased its stake in KEMET Co. (NYSE:KEM) by 50.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,639,523 shares of the electronics maker’s stock after purchasing an additional 546,790 shares during the period. Royce & Associates LP’s holdings in KEMET were worth $24,691,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. State of Tennessee Treasury Department acquired a new position in shares of KEMET during the third quarter worth approximately $108,000. Denali Advisors LLC acquired a new position in shares of KEMET during the third quarter worth approximately $122,000. JPMorgan Chase & Co. acquired a new position in shares of KEMET during the second quarter worth approximately $125,000. UBS Asset Management Americas Inc. acquired a new position in shares of KEMET during the second quarter worth approximately $143,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of KEMET during the fourth quarter worth approximately $146,000. Hedge funds and other institutional investors own 69.02% of the company’s stock.
KEMET Co. (NYSE KEM) opened at $18.34 on Wednesday. KEMET Co. has a 1-year low of $8.05 and a 1-year high of $27.35. The company has a market capitalization of $1,041.54, a P/E ratio of 13.63 and a beta of 3.63. The company has a current ratio of 2.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.70.
A number of brokerages have recently commented on KEM. B. Riley reiterated a “buy” rating and set a $27.50 price target on shares of KEMET in a report on Tuesday, October 31st. Zacks Investment Research upgraded KEMET from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a report on Wednesday, January 24th. ValuEngine upgraded KEMET from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, TheStreet lowered KEMET from a “b” rating to a “c” rating in a report on Thursday, November 2nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $19.58.
In related news, CEO Per Olof Loof sold 5,500 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $17.56, for a total value of $96,580.00. Following the completion of the transaction, the chief executive officer now directly owns 1,124,822 shares in the company, valued at $19,751,874.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ronald James Assaf sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.89, for a total value of $337,800.00. Following the completion of the transaction, the senior vice president now owns 94,225 shares of the company’s stock, valued at $1,591,460.25. The disclosure for this sale can be found here. Insiders sold 70,532 shares of company stock valued at $1,259,191 over the last 90 days. 3.88% of the stock is currently owned by corporate insiders.
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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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