Virtu KCG Holdings LLC Sells 48,671 Shares of Kemet Corporation (KEM)
Virtu KCG Holdings LLC cut its stake in shares of Kemet Corporation (NYSE:KEM) by 45.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,513 shares of the electronics maker’s stock after selling 48,671 shares during the quarter. Virtu KCG Holdings LLC owned approximately 0.12% of Kemet Corporation worth $749,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in KEM. Globeflex Capital L P acquired a new position in Kemet Corporation during the 2nd quarter worth about $105,000. JPMorgan Chase & Co. bought a new position in shares of Kemet Corporation in the 2nd quarter worth about $125,000. UBS Asset Management Americas Inc. bought a new position in shares of Kemet Corporation in the 2nd quarter worth about $143,000. Legal & General Group Plc bought a new position in shares of Kemet Corporation in the 2nd quarter worth about $147,000. Finally, Pacad Investment Ltd. bought a new position in shares of Kemet Corporation in the 2nd quarter worth about $187,000. 67.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Frank G. Brandenberg sold 11,525 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $23.12, for a total transaction of $266,458.00. Following the completion of the sale, the director now directly owns 66,831 shares in the company, valued at $1,545,132.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles C. Meeks, Jr. sold 30,000 shares of the stock in a transaction dated 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 $4,907,263.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,859 shares of company stock valued at $1,598,660. 3.88% of the stock is currently owned by company insiders.
Kemet Corporation (KEM) opened at 23.96 on Friday. Kemet Corporation has a 52-week low of $3.45 and a 52-week high of $24.64. The stock has a 50 day moving average price of $21.19 and a 200 day moving average price of $15.72. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 4.97 and a beta of 3.56.
Kemet Corporation (NYSE:KEM) last posted its earnings results on Wednesday, August 2nd. The electronics maker reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.15. The company had revenue of $274.00 million during the quarter, compared to analyst estimates of $282.52 million. Kemet Corporation had a net margin of 33.25% and a return on equity of 20.21%. Kemet Corporation’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. Equities research analysts forecast that Kemet Corporation will post $1.57 earnings per share for the current year.
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Several research firms have recently weighed in on KEM. ValuEngine raised Kemet Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered Kemet Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub lowered 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 issued a $24.25 price objective on shares of Kemet Corporation in a research report on Tuesday, August 8th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Kemet Corporation in a research report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Kemet Corporation currently has a consensus rating of “Hold” and a consensus price target of $18.08.
Kemet Corporation 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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