Prudential Financial Inc. Sells 86,420 Shares of KEMET Co. (KEM)

Prudential Financial Inc. reduced its position in shares of KEMET Co. (NYSE:KEM) by 36.9% in the 3rd quarter, Holdings Channel reports. The firm owned 147,495 shares of the electronics maker’s stock after selling 86,420 shares during the quarter. Prudential Financial Inc.’s holdings in KEMET were worth $2,736,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KEM. Meeder Asset Management Inc. raised its holdings in KEMET by 2,554.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 6,158 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 5,926 shares during the last quarter. Cerebellum GP LLC bought a new stake in KEMET during the 3rd quarter worth about $172,000. Creative Planning bought a new stake in KEMET during the 3rd quarter worth about $209,000. Financial Gravity Wealth Inc. raised its holdings in KEMET by 44.4% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 12,042 shares of the electronics maker’s stock worth $214,000 after purchasing an additional 3,701 shares during the last quarter. Finally, Pinebridge Investments L.P. bought a new stake in KEMET during the 2nd quarter worth about $226,000. 79.72% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on KEM. ValuEngine cut KEMET from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Zacks Investment Research raised KEMET from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Wednesday, November 7th. Finally, Macquarie began coverage on KEMET in a report on Monday, October 8th. They set an “outperform” rating for the company.

In other news, SVP Ronald James Assaf sold 3,333 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $21.83, for a total transaction of $72,759.39. Following the completion of the transaction, the senior vice president now directly owns 84,222 shares in the company, valued at approximately $1,838,566.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William M. Lowe, Jr. sold 100,000 shares of the business’s stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $18.99, for a total value of $1,899,000.00. Following the transaction, the chief financial officer now owns 255,332 shares of the company’s stock, valued at $4,848,754.68. The disclosure for this sale can be found here. Insiders have sold a total of 109,999 shares of company stock valued at $2,104,379 over the last 90 days. Corporate insiders own 2.95% of the company’s stock.

Shares of NYSE:KEM opened at $17.38 on Friday. The stock has a market cap of $998.38 million, a price-to-earnings ratio of 8.01 and a beta of 3.02. KEMET Co. has a 1-year low of $14.82 and a 1-year high of $29.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.60 and a quick ratio of 1.77.

KEMET (NYSE:KEM) last posted its earnings results on Tuesday, October 30th. The electronics maker reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.27. The company had revenue of $349.20 million during the quarter, compared to analyst estimates of $335.56 million. KEMET had a return on equity of 27.21% and a net margin of 7.18%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts expect that KEMET Co. will post 3.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Friday, November 16th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, November 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.15%. KEMET’s payout ratio is currently 12.35%.

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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.

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Institutional Ownership by Quarter for KEMET (NYSE:KEM)

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