Schwab Charles Investment Management Inc. lifted its holdings in shares of Kemet Corporation (NYSE:KEM) by 186.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 219,363 shares of the electronics maker’s stock after purchasing an additional 142,663 shares during the period. Schwab Charles Investment Management Inc. owned 0.39% of Kemet worth $4,636,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in shares of Kemet by 14.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 17,027 shares of the electronics maker’s stock worth $360,000 after purchasing an additional 2,110 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Kemet by 13.1% during the second quarter. Cubist Systematic Strategies LLC now owns 24,759 shares of the electronics maker’s stock worth $317,000 after purchasing an additional 2,875 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in Kemet by 5.4% in the second quarter. Engineers Gate Manager LP now owns 89,818 shares of the electronics maker’s stock valued at $1,150,000 after acquiring an additional 4,567 shares during the last quarter. State of Tennessee Treasury Department bought a new position in Kemet in the third quarter valued at about $108,000. Finally, Denali Advisors LLC bought a new position in Kemet in the third quarter valued at about $122,000. Institutional investors own 69.79% of the company’s stock.
Kemet Corporation (NYSE KEM) opened at $16.31 on Thursday. The stock has a market capitalization of $919.58, a PE ratio of 3.32 and a beta of 3.45. Kemet Corporation has a 1-year low of $6.41 and a 1-year high of $27.35. The company has a quick ratio of 1.73, a current ratio of 2.51 and a debt-to-equity ratio of 0.75.
In other Kemet news, CFO William M. Lowe, Jr. sold 21,903 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $16.08, for a total transaction of $352,200.24. Following the transaction, the chief financial officer now owns 523,038 shares in the company, valued at $8,410,451.04. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.88% of the stock is owned by company insiders.
Several equities analysts recently issued reports on KEM shares. Zacks Investment Research cut Kemet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine cut Kemet from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. B. Riley reiterated a “buy” rating and issued a $27.50 price target on shares of Kemet in a report on Tuesday, October 31st. Finally, TheStreet cut Kemet from a “b” rating to a “c” rating in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.50.
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KEMET Corporation (KEMET) is a manufacturer of passive electronic components. The Company operates in two segments: Solid Capacitors, and Film and Electrolytic. The Solid Capacitors segment primarily produces tantalum, aluminum, polymer and ceramic capacitors. Solid Capacitors also produces tantalum powder used in the production of tantalum capacitors.
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