UBS Asset Management Americas Inc. Buys 3,433 Shares of KEMET Co. (NYSE:KEM)

UBS Asset Management Americas Inc. grew its stake in shares of KEMET Co. (NYSE:KEM) by 11.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 32,751 shares of the electronics maker’s stock after acquiring an additional 3,433 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.06% of KEMET worth $616,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KEM. Raging Capital Management LLC bought a new stake in shares of KEMET during the 2nd quarter valued at $17,818,000. Granite Investment Partners LLC bought a new stake in shares of KEMET during the 2nd quarter valued at $14,437,000. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 525,793 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of KEMET during the 2nd quarter valued at $7,148,000. Finally, Bank of America Corp DE lifted its position in shares of KEMET by 52.7% during 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. Hedge funds and other institutional investors own 80.83% of the company’s stock.

KEM has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded KEMET from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. Stifel Nicolaus upgraded KEMET from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, September 13th. ValuEngine downgraded KEMET from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, B. Riley upped their price objective on KEMET from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

Shares of KEM stock traded down $0.36 on Friday, hitting $22.49. 21,771 shares of the company’s stock were exchanged, compared to its average volume of 1,183,273. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.49 and a quick ratio of 1.55. KEMET Co. has a 12 month low of $15.55 and a 12 month high of $23.13. The stock has a market cap of $1.32 billion, a P/E ratio of 6.68 and a beta of 2.56. The company has a 50 day moving average of $18.97 and a 200 day moving average of $18.34.

KEMET (NYSE:KEM) last announced its quarterly earnings data on Thursday, August 1st. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. KEMET had a return on equity of 36.26% and a net margin of 15.12%. The business had revenue of $345.20 million during the quarter, compared to the consensus estimate of $343.72 million. During the same period in the prior year, the company earned $0.55 EPS. KEMET’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that KEMET Co. will post 2.62 EPS for the current fiscal year.

In other KEMET news, VP Shignori Oyama sold 22,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $17.71, for a total value of $398,475.00. Following the completion of the transaction, the vice president now owns 117,070 shares of the company’s stock, valued at approximately $2,073,309.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ronald James Assaf sold 3,334 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.90, for a total value of $73,014.60. Following the completion of the transaction, the senior vice president now directly 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. 1.76% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for KEMET (NYSE:KEM)

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