KEMET (NYSE:KEM) Stock Price Down 5.4%

KEMET Co. (NYSE:KEM)’s share price fell 5.4% during mid-day trading on Wednesday . The stock traded as low as $18.02 and last traded at $18.20, 1,223,413 shares changed hands during mid-day trading. An increase of 12% from the average session volume of 1,092,378 shares. The stock had previously closed at $19.23.

Several brokerages have recently issued reports on KEM. B. Riley raised their price objective on shares of KEMET from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. ValuEngine downgraded shares of KEMET from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of KEMET from a “sell” rating to a “hold” rating in a research note on Friday, August 9th.

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.55 and a current ratio of 2.49. The stock has a 50 day simple moving average of $19.48. The firm has a market cap of $1.08 billion, a PE ratio of 5.40 and a beta of 2.52.

KEMET (NYSE:KEM) last posted its quarterly earnings results on Thursday, August 1st. The electronics maker reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.11. KEMET had a net margin of 15.12% and a return on equity of 36.26%. The firm had revenue of $345.20 million for the quarter, compared to the consensus estimate of $343.72 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that KEMET Co. will post 2.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.10%. KEMET’s dividend payout ratio is currently 5.93%.

In other news, VP Shignori Oyama sold 3,102 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $16.88, for a total value of $52,361.76. Following the sale, the vice president now owns 142,473 shares in the company, valued at approximately $2,404,944.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ronald James Assaf sold 3,334 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $19.21, for a total transaction of $64,046.14. Following the completion of the sale, 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. Insiders have sold 13,104 shares of company stock worth $249,468 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of KEMET by 1.2% in the second quarter. BlackRock Inc. now owns 8,388,424 shares of the electronics maker’s stock valued at $157,786,000 after buying an additional 97,450 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of KEMET by 0.4% in the second quarter. Vanguard Group Inc. now owns 3,628,077 shares of the electronics maker’s stock valued at $68,244,000 after buying an additional 13,300 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of KEMET by 31.6% in the second quarter. Bank of New York Mellon Corp now owns 2,188,526 shares of the electronics maker’s stock valued at $41,166,000 after buying an additional 525,793 shares during the last quarter. Raging Capital Management LLC bought a new position in shares of KEMET in the second quarter valued at about $17,818,000. Finally, LSV Asset Management raised its holdings in shares of KEMET by 5.3% in the first quarter. LSV Asset Management now owns 934,565 shares of the electronics maker’s stock valued at $15,859,000 after buying an additional 46,743 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

About KEMET (NYSE:KEM)

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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