KEMET (NYSE:KEM) Downgraded by ValuEngine to “Sell”

ValuEngine cut shares of KEMET (NYSE:KEM) from a hold rating to a sell rating in a research note released on Thursday, ValuEngine reports.

A number of other research firms have also recently weighed in on KEM. Zacks Investment Research cut shares of KEMET from a hold rating to a sell rating in a research report on Saturday, July 27th. B. Riley reiterated a buy rating and set a $26.00 price objective (up previously from $24.00) on shares of KEMET in a research report on Thursday, May 9th.

KEM traded up $0.20 during trading hours on Thursday, hitting $21.48. The company’s stock had a trading volume of 927,443 shares, compared to its average volume of 1,090,246. The firm has a 50-day moving average of $18.96. KEMET has a 12 month low of $15.55 and a 12 month high of $26.96. The firm has a market cap of $1.23 billion, a PE ratio of 6.37 and a beta of 2.52. The company has a current ratio of 2.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.42.

KEMET (NYSE:KEM) last posted its quarterly earnings data on Thursday, August 1st. The electronics maker reported $0.78 earnings per share for the quarter, beating 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 business had revenue of $345.20 million for the quarter, compared to analysts’ expectations of $343.72 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that KEMET will post 2.73 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, August 14th. KEMET’s dividend payout ratio (DPR) is 5.93%.

In other KEMET 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 transaction of $52,361.76. Following the transaction, the vice president now owns 142,473 shares in the company, valued at $2,404,944.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ronald James Assaf sold 3,334 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $19.21, for a total transaction of $64,046.14. Following the completion of the transaction, the senior vice president now owns 59,277 shares in the company, valued at $1,138,711.17. The disclosure for this sale can be found here. Insiders have sold 9,770 shares of company stock worth $176,453 in the last quarter. Company insiders own 1.76% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of KEM. Northern Trust Corp lifted its stake in KEMET by 1.2% in the 4th quarter. Northern Trust Corp now owns 750,510 shares of the electronics maker’s stock valued at $13,164,000 after purchasing an additional 9,237 shares during the last quarter. United Services Automobile Association lifted its stake in KEMET by 22.4% in the 4th quarter. United Services Automobile Association now owns 14,817 shares of the electronics maker’s stock valued at $260,000 after purchasing an additional 2,713 shares during the last quarter. Geode Capital Management LLC lifted its stake in KEMET by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 596,374 shares of the electronics maker’s stock valued at $10,460,000 after purchasing an additional 73,518 shares during the last quarter. Two Sigma Advisers LP lifted its stake in KEMET by 19.6% in the 4th quarter. Two Sigma Advisers LP now owns 78,780 shares of the electronics maker’s stock valued at $1,382,000 after purchasing an additional 12,899 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in KEMET by 307.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 17,703 shares of the electronics maker’s stock valued at $311,000 after purchasing an additional 13,362 shares during the last quarter. Hedge funds and other institutional investors own 81.03% 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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