Paloma Partners Management Co Acquires New Holdings in KEMET Co. (KEM)

Paloma Partners Management Co purchased a new position in shares of KEMET Co. (NYSE:KEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,972 shares of the electronics maker’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KEM. SignalPoint Asset Management LLC acquired a new stake in KEMET during the 4th quarter worth approximately $548,000. IFP Advisors Inc acquired a new position in KEMET in the 4th quarter valued at $35,000. Bank of New York Mellon Corp raised its holdings in KEMET by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,003,590 shares of the electronics maker’s stock valued at $24,237,000 after acquiring an additional 46,047 shares in the last quarter. Man Group plc raised its holdings in KEMET by 62.0% in the 3rd quarter. Man Group plc now owns 202,957 shares of the electronics maker’s stock valued at $3,765,000 after acquiring an additional 77,700 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in KEMET by 51.0% in the 4th quarter. Bank of Montreal Can now owns 2,550 shares of the electronics maker’s stock valued at $44,000 after acquiring an additional 861 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on KEM shares. ValuEngine cut KEMET from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Zacks Investment Research raised KEMET from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, January 16th.

KEM stock traded down $0.12 during midday trading on Friday, reaching $17.46. 489,994 shares of the stock were exchanged, compared to its average volume of 872,639. The firm has a market capitalization of $1.01 billion, a P/E ratio of 10.78 and a beta of 2.67. KEMET Co. has a 52 week low of $15.55 and a 52 week high of $29.85. The company has a quick ratio of 1.54, a current ratio of 2.39 and a debt-to-equity ratio of 0.51.

KEMET (NYSE:KEM) last issued its quarterly earnings data on Thursday, January 31st. The electronics maker reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.19. KEMET had a return on equity of 32.59% and a net margin of 8.59%. The business had revenue of $350.18 million for the quarter, compared to analyst estimates of $353.36 million. As a group, equities research analysts expect that KEMET Co. will post 3.24 EPS for the current fiscal year.

In other KEMET news, VP Shignori Oyama sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $18.69, for a total value of $560,700.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ronald James Assaf sold 3,333 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $18.00, for a total value of $59,994.00. The disclosure for this sale can be found here. Insiders sold a total of 96,997 shares of company stock worth $1,807,248 in the last quarter. Corporate insiders own 2.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.baseballdailydigest.com/news/2019/04/21/paloma-partners-management-co-acquires-new-stake-in-kemet-co-kem.html.

KEMET 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.

Further Reading: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for KEMET (NYSE:KEM)

Receive News & Ratings for KEMET Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KEMET and related companies with MarketBeat.com's FREE daily email newsletter.