Envestnet Asset Management Inc. Decreases Position in Kimball Electronics, Inc. (NASDAQ:KE)

Envestnet Asset Management Inc. lessened its stake in Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 233,341 shares of the electronics maker's stock after selling 24,165 shares during the period. Envestnet Asset Management Inc. owned approximately 0.95% of Kimball Electronics worth $4,370,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Kimball Electronics in the fourth quarter worth about $82,000. SG Americas Securities LLC increased its position in Kimball Electronics by 28.9% in the fourth quarter. SG Americas Securities LLC now owns 11,283 shares of the electronics maker's stock worth $211,000 after buying an additional 2,528 shares in the last quarter. AlphaQuest LLC increased its position in Kimball Electronics by 358.2% in the fourth quarter. AlphaQuest LLC now owns 15,223 shares of the electronics maker's stock worth $285,000 after buying an additional 11,901 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Kimball Electronics in the fourth quarter worth about $397,000. Finally, ExodusPoint Capital Management LP increased its position in Kimball Electronics by 4.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 23,786 shares of the electronics maker's stock worth $446,000 after buying an additional 979 shares in the last quarter. Institutional investors own 75.99% of the company's stock.

Kimball Electronics Price Performance

Kimball Electronics stock traded up $0.13 during midday trading on Tuesday, reaching $14.83. 107,468 shares of the stock traded hands, compared to its average volume of 121,726. The stock's fifty day moving average is $15.61 and its 200-day moving average is $17.61. Kimball Electronics, Inc. has a 12 month low of $12.41 and a 12 month high of $24.45. The stock has a market cap of $364.15 million, a P/E ratio of 46.35 and a beta of 1.18. The company has a quick ratio of 1.29, a current ratio of 2.28 and a debt-to-equity ratio of 0.33.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.05. Kimball Electronics had a return on equity of 5.48% and a net margin of 0.51%. As a group, equities research analysts anticipate that Kimball Electronics, Inc. will post 0.89 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Lake Street Capital reduced their price target on Kimball Electronics from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. StockNews.com raised Kimball Electronics from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.75.

Kimball Electronics Profile

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.