KEM Stock: 19,253 Shares in Kemet Corporation Purchased by New York State Teachers Retirement System

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New York State Teachers Retirement System acquired a new position in Kemet Corporation (NYSE:KEM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 19,253 shares of the electronics maker’s stock, valued at approximately $407,000.

A number of other large investors have also recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in Kemet Corporation by 59.8% in the second quarter. Renaissance Technologies LLC now owns 3,789,099 shares of the electronics maker’s stock worth $48,500,000 after purchasing an additional 1,418,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kemet Corporation by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,008,032 shares of the electronics maker’s stock valued at $38,503,000 after buying an additional 179,841 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Kemet Corporation by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,748,043 shares of the electronics maker’s stock valued at $22,374,000 after buying an additional 202,892 shares in the last quarter. Numeric Investors LLC lifted its position in shares of Kemet Corporation by 1,622.5% during the 2nd quarter. Numeric Investors LLC now owns 1,111,039 shares of the electronics maker’s stock valued at $14,221,000 after buying an additional 1,046,539 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Kemet Corporation by 1,972.6% during the 2nd quarter. State Street Corp now owns 750,547 shares of the electronics maker’s stock valued at $9,606,000 after buying an additional 714,335 shares in the last quarter. 58.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Frank G. Brandenberg sold 11,525 shares of Kemet Corporation stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $23.12, for a total transaction of $266,458.00. Following the sale, the director now owns 66,831 shares of the company’s stock, valued at approximately $1,545,132.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William M. Lowe, Jr. sold 21,903 shares of Kemet Corporation stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $16.08, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 34,428 shares of company stock worth $640,968 in the last three months. 3.88% of the stock is owned by corporate insiders.

KEM has been the topic of a number of analyst reports. TheStreet raised Kemet Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. ValuEngine raised Kemet Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub cut Kemet Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. B. Riley reaffirmed a “buy” rating and set a $24.25 price objective on shares of Kemet Corporation in a research report on Tuesday, August 8th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Kemet Corporation in a research report on Monday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $22.50.

Shares of Kemet Corporation (NYSE:KEM) opened at $16.58 on Friday. The stock has a market capitalization of $920.15, a P/E ratio of 16.83 and a beta of 3.65. Kemet Corporation has a 12 month low of $4.71 and a 12 month high of $27.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.73 and a current ratio of 2.51.

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

About Kemet Corporation

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 Corporation (NYSE:KEM)

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