KEMET Co. (NYSE:KEM) Declares Quarterly Dividend of $0.05
KEMET Co. (NYSE:KEM) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.05 per share by the electronics maker on Monday, August 26th. This represents a $0.20 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, August 14th.
KEMET has a dividend payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect KEMET to earn $2.76 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.2%.
KEM opened at $19.21 on Tuesday. The company has a market capitalization of $1.13 billion, a PE ratio of 5.70 and a beta of 2.52. KEMET has a 1-year low of $15.55 and a 1-year high of $26.96. The company has a 50 day simple moving average of $19.44. The company has a quick ratio of 1.55, a current ratio of 2.49 and a debt-to-equity ratio of 0.42.
Several research analysts recently commented on the company. B. Riley raised their target price on KEMET from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Zacks Investment Research raised KEMET from a “sell” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine cut KEMET from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
In other news, VP Shignori Oyama sold 3,102 shares of KEMET stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $16.88, for a total transaction of $52,361.76. Following the transaction, the vice president now owns 142,473 shares in the company, valued at approximately $2,404,944.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ronald James Assaf sold 3,334 shares of KEMET stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $19.21, for a total value of $64,046.14. Following the transaction, the senior vice president now owns 59,277 shares in the company, valued at approximately $1,138,711.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,104 shares of company stock valued at $249,468. 1.76% of the stock is currently owned by corporate insiders.
KEMET Company Profile
KEMET Corporation manufactures and sells passive electronic components under the KEMET brand worldwide. The company operates in three segments: Solid Capacitors, Film and Electrolytic; and Electro-Magnetic, Sensors, and Actuators. It offers tantalum, aluminum polymer, and ceramic capacitors; film, paper, and wet aluminum electrolytic capacitors; electromagnetic interference filters; and electro-magnetic compatible materials and devices, piezo materials and actuators, and various types of sensors.
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