Morgan Stanley Acquires 187,728 Shares of KEMET Co. (NYSE:KEM)

Morgan Stanley boosted its holdings in KEMET Co. (NYSE:KEM) by 107.7% in the second quarter, Holdings Channel reports. The firm owned 362,078 shares of the electronics maker’s stock after purchasing an additional 187,728 shares during the quarter. Morgan Stanley’s holdings in KEMET were worth $6,811,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in 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 purchasing an additional 97,450 shares in the last quarter. Vanguard Group Inc. grew its position in 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 purchasing an additional 13,300 shares in the last quarter. Bank of New York Mellon Corp grew its position in 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 purchasing an additional 525,793 shares in the last quarter. Raging Capital Management LLC bought a new position in shares of KEMET in the 2nd quarter valued at about $17,818,000. Finally, Bank of America Corp DE grew its position in shares of KEMET by 52.7% in the 2nd quarter. Bank of America Corp DE now owns 925,935 shares of the electronics maker’s stock valued at $17,418,000 after acquiring an additional 319,651 shares during the period. 80.83% of the stock is owned by institutional investors and hedge funds.

NYSE KEM opened at $23.24 on Friday. The firm has a 50-day moving average of $19.08 and a 200-day moving average of $18.37. 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 market cap of $1.33 billion, a PE ratio of 6.29 and a beta of 2.56. KEMET Co. has a 52-week low of $15.55 and a 52-week high of $23.33.

KEMET (NYSE:KEM) last posted its earnings results on Thursday, August 1st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $345.20 million during the quarter, compared to analysts’ expectations of $343.72 million. KEMET had a net margin of 15.12% and a return on equity of 36.26%. KEMET’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 EPS. As a group, analysts predict that KEMET Co. will post 2.62 EPS for the current fiscal year.

A number of research analysts have recently commented on KEM shares. Stifel Nicolaus raised shares of KEMET from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Friday, September 13th. B. Riley raised their target price 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. Zacks Investment Research cut shares of KEMET from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Finally, ValuEngine cut shares of KEMET from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

In other news, VP Shignori Oyama sold 22,500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $17.71, for a total transaction of $398,475.00. Following the completion of the sale, the vice president now owns 117,070 shares in the company, valued at approximately $2,073,309.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Ronald James Assaf sold 3,334 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.90, for a total transaction of $73,014.60. Following the sale, the senior vice president now owns 57,743 shares of the company’s stock, valued at approximately $1,264,571.70. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.

KEMET Company Profile

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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Institutional Ownership by Quarter for KEMET (NYSE:KEM)

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