Principal Financial Group Inc. Acquires Shares of 379,311 Kemet Corporation (KEM)

Principal Financial Group Inc. acquired a new stake in Kemet Corporation (NYSE:KEM) during the third quarter, according to its most recent filing with the SEC. The firm acquired 379,311 shares of the electronics maker’s stock, valued at approximately $8,015,000. Principal Financial Group Inc. owned about 0.79% of Kemet at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Globeflex Capital L P purchased a new position in Kemet in the 2nd quarter valued at $105,000. State of Tennessee Treasury Department purchased a new position in Kemet in the 3rd quarter valued at $108,000. Denali Advisors LLC purchased a new position in Kemet in the 3rd quarter valued at $122,000. JPMorgan Chase & Co. purchased a new position in Kemet in the 2nd quarter valued at $125,000. Finally, UBS Asset Management Americas Inc. purchased a new position in Kemet in the 2nd quarter valued at $143,000. Hedge funds and other institutional investors own 69.90% of the company’s stock.

A number of equities analysts recently weighed in on KEM shares. Zacks Investment Research upgraded shares of Kemet from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Friday, October 6th. B. Riley reiterated a “buy” rating and issued a $27.50 price objective on shares of Kemet in a research report on Tuesday, October 31st. ValuEngine upgraded shares of Kemet from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. TheStreet lowered shares of Kemet from a “b” rating to a “c” rating in a research report on Thursday, November 2nd. Finally, BidaskClub lowered shares of Kemet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $22.50.

In other Kemet 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 directly owns 523,038 shares in the company, valued at approximately $8,410,451.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.88% of the stock is currently owned by insiders.

Shares of Kemet Corporation (NYSE:KEM) traded down $0.15 during midday trading on Thursday, hitting $14.20. 2,677,200 shares of the company’s stock traded hands, compared to its average volume of 1,481,514. The stock has a market cap of $809.08, a price-to-earnings ratio of 14.79 and a beta of 3.44. Kemet Corporation has a 52 week low of $5.78 and a 52 week high of $27.35. The company has a quick ratio of 1.73, a current ratio of 2.51 and a debt-to-equity ratio of 0.75.

Kemet (NYSE:KEM) last issued its earnings results on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $301.47 million for the quarter, compared to analyst estimates of $298.51 million. Kemet had a net margin of 31.16% and a return on equity of 21.07%. The business’s revenue was up 60.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. equities research analysts forecast that Kemet Corporation will post 1.44 earnings per share for the current year.

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About Kemet

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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Institutional Ownership by Quarter for Kemet (NYSE:KEM)

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