New York State Common Retirement Fund Reduces Stake in Kemet Corporation (KEM)

New York State Common Retirement Fund decreased its stake in shares of Kemet Corporation (NYSE:KEM) by 78.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 48,800 shares of the electronics maker’s stock after selling 176,665 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Kemet worth $1,031,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of KEM. State Board of Administration of Florida Retirement System increased its stake in Kemet by 14.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 17,027 shares of the electronics maker’s stock valued at $360,000 after acquiring an additional 2,110 shares during the period. Cubist Systematic Strategies LLC increased its stake in Kemet by 13.1% in the second quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock valued at $317,000 after acquiring an additional 2,875 shares during the period. Engineers Gate Manager LP increased its stake in Kemet by 5.4% in the second quarter. Engineers Gate Manager LP now owns 89,818 shares of the electronics maker’s stock valued at $1,150,000 after acquiring an additional 4,567 shares during the period. State of Tennessee Treasury Department bought a new stake in Kemet in the third quarter valued at about $108,000. Finally, Denali Advisors LLC bought a new stake in Kemet in the third quarter valued at about $122,000. Institutional investors own 69.79% of the company’s stock.

In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total value of $352,200.24. Following the transaction, the chief financial officer now directly owns 523,038 shares in the company, valued at $8,410,451.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.88% of the stock is owned by insiders.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Kemet from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine cut shares of Kemet from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. TheStreet cut shares of Kemet from a “b” rating to a “c” rating in a research note on Thursday, November 2nd. Finally, B. Riley reissued a “buy” rating and issued a $27.50 target price on shares of Kemet in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Kemet has an average rating of “Hold” and an average price target of $22.50.

Kemet Corporation (KEM) opened at $16.06 on Friday. The company has a market cap of $905.49, a PE ratio of 3.27 and a beta of 3.45. Kemet Corporation has a 12-month low of $6.26 and a 12-month high of $27.35. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.51 and a quick ratio of 1.73.

Kemet (NYSE:KEM) last released its quarterly earnings results on Thursday, November 2nd. The electronics maker reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The firm 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 company’s revenue for the quarter was up 60.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 earnings per share. equities research analysts predict that Kemet Corporation will post 1.44 EPS for the current year.

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Kemet 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.

Institutional Ownership by Quarter for Kemet (NYSE:KEM)

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