Axa Sells 16,600 Shares of KEMET Co. (KEM)

Axa lowered its holdings in shares of KEMET Co. (NYSE:KEM) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,200 shares of the electronics maker’s stock after selling 16,600 shares during the quarter. Axa owned about 0.33% of KEMET worth $3,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in KEMET by 2,554.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 6,158 shares of the electronics maker’s stock valued at $113,000 after buying an additional 5,926 shares during the last quarter. Cerebellum GP LLC acquired a new position in KEMET in the 3rd quarter valued at $172,000. Creative Planning acquired a new position in KEMET in the 3rd quarter valued at $209,000. Financial Gravity Wealth Inc. grew its stake in KEMET by 44.4% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 12,042 shares of the electronics maker’s stock valued at $214,000 after buying an additional 3,701 shares during the last quarter. Finally, Pinebridge Investments L.P. acquired a new position in KEMET in the 2nd quarter valued at $226,000. Institutional investors and hedge funds own 82.16% of the company’s stock.

NYSE:KEM opened at $20.48 on Monday. KEMET Co. has a 1 year low of $13.73 and a 1 year high of $29.85. The company has a current ratio of 2.60, a quick ratio of 1.77 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.18 billion, a P/E ratio of 12.64 and a beta of 3.03.

KEMET (NYSE:KEM) last posted its earnings results on Tuesday, October 30th. The electronics maker reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.27. KEMET had a net margin of 7.18% and a return on equity of 27.21%. The business had revenue of $349.20 million for the quarter, compared to analyst estimates of $335.56 million. During the same period last year, the business posted $0.45 EPS. KEMET’s revenue was up 15.8% compared to the same quarter last year. Research analysts forecast that KEMET Co. will post 3.16 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Friday, November 16th were paid a $0.05 dividend. The ex-dividend date was Thursday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.98%. KEMET’s payout ratio is presently 12.35%.

KEM has been the topic of a number of research analyst reports. ValuEngine lowered shares of KEMET from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Zacks Investment Research lowered shares of KEMET from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, Macquarie initiated coverage on shares of KEMET in a research note on Monday, October 8th. They issued an “outperform” rating on the stock.

In related news, SVP Ronald James Assaf sold 3,333 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $25.06, for a total value of $83,524.98. Following the transaction, the senior vice president now directly owns 93,288 shares in the company, valued at approximately $2,337,797.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 9,999 shares of company stock worth $217,612 over the last quarter. 2.95% of the stock is currently owned by company 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.

Read More: Stock Split

Institutional Ownership by Quarter for KEMET (NYSE:KEM)

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