New York State Teachers Retirement System Acquires Shares of 19,253 Kemet Corporation (KEM)
New York State Teachers Retirement System acquired a new stake in Kemet Corporation (NYSE:KEM) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,253 shares of the electronics maker’s stock, valued at approximately $407,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. NJ State Employees Deferred Compensation Plan bought a new position in shares of Kemet Corporation in the third quarter valued at approximately $845,000. Penserra Capital Management LLC bought a new stake in Kemet Corporation during the third quarter valued at approximately $2,646,000. IFC Holdings Incorporated FL bought a new stake in Kemet Corporation during the third quarter valued at approximately $328,000. Fox Run Management L.L.C. bought a new stake in Kemet Corporation during the third quarter valued at approximately $235,000. Finally, Denali Advisors LLC bought a new stake in Kemet Corporation during the third quarter valued at approximately $122,000. Institutional investors own 59.57% of the company’s stock.
Several equities research analysts have issued reports on the stock. B. Riley reiterated a “buy” rating and set a $24.25 target price on shares of Kemet Corporation in a research report on Tuesday, August 8th. BidaskClub lowered shares of Kemet Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Kemet Corporation in a research note on Monday, August 7th. ValuEngine downgraded shares of Kemet Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, TheStreet raised shares of Kemet Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.50.
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In other news, CFO William M. Lowe, Jr. sold 21,903 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total transaction of $352,200.24. Following the sale, the chief financial officer now owns 523,038 shares in the company, valued at approximately $8,410,451.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank G. Brandenberg sold 11,525 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $23.12, for a total transaction of $266,458.00. Following the sale, the director now owns 66,831 shares in the company, valued at approximately $1,545,132.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,428 shares of company stock worth $640,968. Insiders own 3.88% of the company’s stock.
Kemet Corporation (NYSE KEM) opened at $15.48 on Wednesday. The company has a current ratio of 2.51, a quick ratio of 1.73 and a debt-to-equity ratio of 0.75. The stock has a market cap of $884.06, a price-to-earnings ratio of 16.17 and a beta of 3.65. Kemet Corporation has a 1 year low of $4.15 and a 1 year high of $27.35.
Kemet Corporation (NYSE:KEM) last issued its quarterly earnings data on Thursday, November 2nd. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The business had revenue of $301.47 million for the quarter, compared to the consensus estimate of $298.51 million. Kemet Corporation had a net margin of 31.16% and a return on equity of 21.07%. The company’s quarterly revenue was up 60.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. equities research analysts predict that Kemet Corporation will post 1.44 earnings per share for the current year.
Kemet Corporation 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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