Donald Smith & CO. Inc. Decreases Stake in Kimball Electronics, Inc. (NASDAQ:KE)

Donald Smith & CO. Inc. cut its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,576 shares of the electronics maker’s stock after selling 16,028 shares during the quarter. Donald Smith & CO. Inc.’s holdings in Kimball Electronics were worth $3,546,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Foundry Partners LLC raised its stake in shares of Kimball Electronics by 25.2% during the 1st quarter. Foundry Partners LLC now owns 197,225 shares of the electronics maker’s stock valued at $4,270,000 after buying an additional 39,755 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Kimball Electronics by 70.2% during the 1st quarter. Empowered Funds LLC now owns 54,864 shares of the electronics maker’s stock valued at $1,188,000 after purchasing an additional 22,625 shares in the last quarter. American Century Companies Inc. boosted its holdings in Kimball Electronics by 39.7% during the second quarter. American Century Companies Inc. now owns 198,560 shares of the electronics maker’s stock worth $4,364,000 after buying an additional 56,468 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Kimball Electronics by 11.0% during the third quarter. Assenagon Asset Management S.A. now owns 303,629 shares of the electronics maker’s stock valued at $5,620,000 after buying an additional 29,993 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Kimball Electronics by 3.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,055 shares of the electronics maker’s stock worth $651,000 after acquiring an additional 889 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.

Kimball Electronics Price Performance

Shares of Kimball Electronics stock traded up $0.17 on Wednesday, hitting $18.43. 11,750 shares of the company were exchanged, compared to its average volume of 114,734. Kimball Electronics, Inc. has a 1-year low of $16.64 and a 1-year high of $27.73. The company has a quick ratio of 1.36, a current ratio of 2.26 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $458.34 million, a price-to-earnings ratio of 14.27 and a beta of 1.26. The company has a 50-day moving average price of $17.92 and a 200 day moving average price of $20.42.

Kimball Electronics (NASDAQ:KE) last issued its earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.08). Kimball Electronics had a net margin of 1.20% and a return on equity of 6.65%. The company had revenue of $430.16 million during the quarter, compared to analysts’ expectations of $429.00 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. As a group, sell-side analysts predict that Kimball Electronics, Inc. will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on KE shares. Lake Street Capital lowered their price target on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. EF Hutton Acquisition Co. I cut shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Sidoti cut shares of Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Thursday, August 15th. B. Riley dropped their target price on shares of Kimball Electronics from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Cantor Fitzgerald reduced their price target on shares of Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.25.

About Kimball Electronics

Kimball Electronics, Inc engages in the provision of electronics manufacturing, engineering, and supply chain support services to customers in the automotive, medical, and industrial end markets. The Company also offers contract manufacturing services, including engineering and supply chain support for the production of electronic assemblies and other products, including non-electronic components, medical devices, medical disposables, and precision molded plastics, as well as automation, test, and inspection equipment primarily used in automotive, medical, and industrial applications.