Hillsdale Investment Management Inc. Acquires New Position in Kemet Corporation (KEM)
Hillsdale Investment Management Inc. acquired a new stake in Kemet Corporation (NYSE:KEM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 67,600 shares of the electronics maker’s stock, valued at approximately $865,000. Hillsdale Investment Management Inc. owned about 0.14% of Kemet Corporation as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of KEM. Morgan Stanley grew its holdings in Kemet Corporation by 117.6% in the 1st quarter. Morgan Stanley now owns 647,649 shares of the electronics maker’s stock valued at $7,771,000 after buying an additional 350,056 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Kemet Corporation during the 2nd quarter worth $2,578,000. Acadian Asset Management LLC grew its holdings in shares of Kemet Corporation by 78.0% during the 2nd quarter. Acadian Asset Management LLC now owns 259,279 shares of the electronics maker’s stock worth $3,318,000 after purchasing an additional 113,620 shares during the period. Strs Ohio purchased a new position in shares of Kemet Corporation during the 2nd quarter worth $710,000. Finally, Systematic Financial Management LP purchased a new position in shares of Kemet Corporation during the 1st quarter worth $1,907,000. 67.27% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Stefano Vetralla sold 9,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $18.70, for a total transaction of $168,300.00. Following the completion of the sale, the vice president now directly owns 51,611 shares in the company, valued at $965,125.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Charles C. Meeks, Jr. sold 30,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $18.89, for a total value of $566,700.00. Following the sale, the insider now owns 259,781 shares of the company’s stock, valued at $4,907,263.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,859 shares of company stock valued at $1,598,660. Corporate insiders own 3.88% of the company’s stock.
A number of brokerages recently commented on KEM. B. Riley restated a “buy” rating and set a $24.25 target price on shares of Kemet Corporation in a report on Thursday, August 3rd. BidaskClub raised Kemet Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Stifel Nicolaus reissued a “hold” rating on shares of Kemet Corporation in a research report on Monday, August 7th. TheStreet raised Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Kemet Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $18.08.
Shares of Kemet Corporation (NYSE KEM) opened at 21.13 on Friday. The stock has a market capitalization of $1.01 billion, a P/E ratio of 4.38 and a beta of 3.55. The company has a 50 day moving average price of $20.39 and a 200-day moving average price of $14.92. Kemet Corporation has a 1-year low of $3.40 and a 1-year high of $24.64.
Kemet Corporation (NYSE:KEM) last issued its quarterly earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The firm 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 firm’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. On average, equities research analysts forecast that Kemet Corporation will post $1.57 EPS for the current fiscal year.
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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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