KEMET (NYSE:KEM) Upgraded to Buy by Stifel Nicolaus

Stifel Nicolaus upgraded shares of KEMET (NYSE:KEM) from a hold rating to a buy rating in a research note published on Friday, BenzingaRatingsTable reports. Stifel Nicolaus currently has $26.00 price target on the electronics maker’s stock.

KEM has been the subject of several other research reports. Zacks Investment Research downgraded shares of KEMET from a hold rating to a sell rating in a research report on Thursday, September 5th. ValuEngine downgraded shares of KEMET from a hold rating to a sell rating in a research report on Thursday, August 1st. Finally, B. Riley increased their price objective on shares of KEMET from $26.00 to $29.00 and gave the company a buy rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. KEMET presently has a consensus rating of Hold and an average target price of $25.33.

Shares of NYSE:KEM opened at $19.38 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.49 and a debt-to-equity ratio of 0.42. KEMET has a 52-week low of $15.55 and a 52-week high of $23.13. The company has a 50 day moving average of $18.66 and a two-hundred day moving average of $18.09. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 5.75 and a beta of 2.62.

KEMET (NYSE:KEM) last issued its quarterly earnings data on Thursday, August 1st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $345.20 million during the quarter, compared to the consensus estimate of $343.72 million. During the same quarter last year, the company earned $0.55 earnings per share. KEMET’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that KEMET will post 2.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 14th. KEMET’s dividend payout ratio (DPR) is currently 5.93%.

In other news, VP Shignori Oyama sold 22,500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $17.71, for a total transaction of $398,475.00. Following the completion of the transaction, the vice president now directly owns 117,070 shares in the company, valued at approximately $2,073,309.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Ronald James Assaf sold 3,334 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.90, for a total value of $73,014.60. Following the transaction, the senior vice president now owns 57,743 shares of the company’s stock, valued at $1,264,571.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,168 shares of company stock valued at $535,536. Company insiders own 1.76% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of KEMET by 1.2% during the 2nd 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. boosted its stake in shares of KEMET by 0.4% during the 2nd 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 boosted its stake in shares of KEMET by 31.6% during the 2nd 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. Nuveen Asset Management LLC purchased a new position in shares of KEMET during the 2nd quarter valued at approximately $19,241,000. Finally, Raging Capital Management LLC purchased a new position in shares of KEMET during the 2nd quarter valued at approximately $17,818,000. Institutional investors own 80.23% of the company’s stock.

About KEMET

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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