Systematic Financial Management LP Has $4.25 Million Stake in Kemet Corporation (KEM)
Systematic Financial Management LP lifted its stake in shares of Kemet Corporation (NYSE:KEM) by 109.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 332,225 shares of the electronics maker’s stock after buying an additional 173,315 shares during the quarter. Systematic Financial Management LP owned approximately 0.70% of Kemet Corporation worth $4,252,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new position in shares of Kemet Corporation during the second quarter worth about $432,000. Engineers Gate Manager LP grew its position in shares of Kemet Corporation by 5.4% during the second quarter. Engineers Gate Manager LP now owns 89,818 shares of the electronics maker’s stock worth $1,150,000 after buying an additional 4,567 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Kemet Corporation during the second quarter worth about $125,000. Swiss National Bank acquired a new position in shares of Kemet Corporation during the second quarter worth about $844,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Kemet Corporation during the second quarter worth about $187,000. 68.87% of the stock is owned by institutional investors and hedge funds.
Kemet Corporation (NYSE:KEM) opened at 20.32 on Wednesday. Kemet Corporation has a one year low of $3.26 and a one year high of $24.64. The firm has a market capitalization of $969.14 million, a P/E ratio of 4.21 and a beta of 3.55. The company has a 50-day moving average price of $19.83 and a 200-day moving average price of $14.53.
Kemet Corporation (NYSE:KEM) last released its quarterly earnings data on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.15. The business had revenue of $274.00 million during 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%. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities research analysts anticipate that Kemet Corporation will post $1.57 EPS for the current year.
In other Kemet Corporation news, insider Charles C. Meeks, Jr. sold 30,000 shares of Kemet Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $18.89, for a total transaction of $566,700.00. Following the sale, the insider now owns 259,781 shares of the company’s stock, valued at approximately $4,907,263.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wilfried Backes sold 20,000 shares of Kemet Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the sale, the director now directly owns 87,934 shares in the company, valued at approximately $1,800,008.98. The disclosure for this sale can be found here. Insiders have sold a total of 80,859 shares of company stock worth $1,598,660 in the last ninety days. 3.88% of the stock is owned by company insiders.
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A number of equities analysts have recently commented on the company. ValuEngine raised Kemet Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. B. Riley reissued a “buy” rating and set a $24.25 price objective on shares of Kemet Corporation in a research report on Tuesday, August 8th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Kemet Corporation in a report on Monday, August 7th. Finally, TheStreet raised Kemet Corporation from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Kemet Corporation presently has a consensus rating of “Buy” and a consensus target price of $18.08.
About Kemet Corporation
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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