Valeo Financial Advisors LLC purchased a new position in shares of Kimball Electronics Inc (NASDAQ:KE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 173,233 shares of the electronics maker’s stock, valued at approximately $3,750,000. Kimball Electronics accounts for approximately 0.8% of Valeo Financial Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Valeo Financial Advisors LLC owned about 0.65% of Kimball Electronics at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of KE. Tower Research Capital LLC TRC acquired a new stake in Kimball Electronics in the 2nd quarter valued at about $140,000. Hancock Holding Co. acquired a new stake in Kimball Electronics in the 2nd quarter valued at about $185,000. Nordea Investment Management AB grew its stake in Kimball Electronics by 32.1% in the 2nd quarter. Nordea Investment Management AB now owns 10,700 shares of the electronics maker’s stock valued at $193,000 after acquiring an additional 2,600 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Kimball Electronics in the 3rd quarter valued at about $213,000. Finally, Aperio Group LLC grew its stake in Kimball Electronics by 21.1% in the 2nd quarter. Aperio Group LLC now owns 13,795 shares of the electronics maker’s stock valued at $249,000 after acquiring an additional 2,399 shares during the last quarter. 56.63% of the stock is currently owned by institutional investors and hedge funds.
KE has been the topic of a number of research reports. BidaskClub raised shares of Kimball Electronics from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 15th. ValuEngine cut shares of Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd.
Kimball Electronics (NASDAQ:KE) last released its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $0.31 earnings per share (EPS) for the quarter. Kimball Electronics had a net margin of 3.40% and a return on equity of 9.63%. The company had revenue of $253.20 million for the quarter.
Kimball Electronics announced that its board has initiated a stock buyback program on Thursday, August 24th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 42% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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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