Vanguard Group Inc. Increases Stake in Kimball Electronics, Inc. (KE)
Vanguard Group Inc. grew its holdings in shares of Kimball Electronics, Inc. (NASDAQ:KE) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,176,252 shares of the electronics maker’s stock after buying an additional 31,106 shares during the period. Vanguard Group Inc. owned 4.36% of Kimball Electronics worth $21,231,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. LSV Asset Management boosted its stake in Kimball Electronics by 280.4% in the 2nd quarter. LSV Asset Management now owns 491,983 shares of the electronics maker’s stock worth $8,880,000 after purchasing an additional 362,655 shares in the last quarter. AJO LP bought a new position in Kimball Electronics in the 2nd quarter worth about $3,879,000. Renaissance Technologies LLC boosted its stake in Kimball Electronics by 44.0% in the 1st quarter. Renaissance Technologies LLC now owns 350,575 shares of the electronics maker’s stock worth $5,942,000 after purchasing an additional 107,200 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Kimball Electronics by 37.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 257,116 shares of the electronics maker’s stock worth $4,641,000 after purchasing an additional 70,182 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Kimball Electronics by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,295,943 shares of the electronics maker’s stock worth $38,916,000 after purchasing an additional 65,669 shares in the last quarter. Hedge funds and other institutional investors own 55.89% of the company’s stock.
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Kimball Electronics, Inc. (NASDAQ:KE) opened at $20.00 on Wednesday. The stock has a market cap of $535.43, a PE ratio of 16.76 and a beta of 1.01. Kimball Electronics, Inc. has a one year low of $15.05 and a one year high of $22.45.
Kimball Electronics (NASDAQ:KE) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $0.31 earnings per share (EPS) for the quarter. The business had revenue of $253.20 million for the quarter. Kimball Electronics had a net margin of 3.40% and a return on equity of 9.63%.
Kimball Electronics declared that its board has initiated a stock buyback plan on Thursday, August 24th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 42% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of brokerages recently issued reports on KE. BidaskClub cut shares of Kimball Electronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 4th. ValuEngine cut shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd.
About Kimball Electronics
Kimball Electronics, Inc (Kimball Electronics) is an electronics manufacturing services (EMS) company. The Company is engaged in producing electronics for the automotive, medical, industrial and public safety markets. It provides design, engineering, manufacturing, packaging and distribution of electronic assemblies and circuit boards on a contract basis to a range of industries.
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