Arrowstreet Capital Limited Partnership Reduces Stock Position in Kimball Electronics, Inc. $KE

Key Points

• Arrowstreet Capital reduced its Kimball Electronics stake by 13% in the first quarter, selling 59,063 shares and retaining 396,884 shares worth approximately $9.4 million. Institutional investors collectively own 75.99% of the company.
• Kimball Electronics reported quarterly earnings of $0.33 per share, slightly below the $0.34 analyst consensus, while revenue of $352.92 million also missed estimates. Analysts project full-year earnings of $1.27 per share.
• KE opened at $24.73, compared with a consensus analyst price target of $32.00. Ratings remain broadly positive, with an overall “Moderate Buy” consensus despite some recent upgrades and downgrades.

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 396,884 shares of the electronics maker's stock after selling 59,063 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.65% of Kimball Electronics worth $9,402,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KE. JPMorgan Chase & Co. boosted its position in Kimball Electronics by 806.4% during the third quarter. JPMorgan Chase & Co. now owns 112,710 shares of the electronics maker's stock worth $3,366,000 after purchasing an additional 100,275 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kimball Electronics by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 1,995,742 shares of the electronics maker's stock valued at $55,522,000 after buying an additional 48,456 shares in the last quarter. Inspire Investing LLC increased its position in shares of Kimball Electronics by 459.4% in the first quarter. Inspire Investing LLC now owns 92,989 shares of the electronics maker's stock valued at $2,203,000 after buying an additional 76,367 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Kimball Electronics by 31.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 226,492 shares of the electronics maker's stock worth $5,366,000 after buying an additional 54,578 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Kimball Electronics by 1,656.1% during the 1st quarter. Fifth Third Bancorp now owns 34,419 shares of the electronics maker's stock worth $815,000 after buying an additional 32,459 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company's stock.

Kimball Electronics Price Performance

Kimball Electronics stock opened at $24.73 on Friday. Kimball Electronics, Inc. has a 12-month low of $18.04 and a 12-month high of $33.19. The stock has a market capitalization of $594.76 million, a P/E ratio of 23.78, a P/E/G ratio of 1.10 and a beta of 1.22. The firm's 50-day moving average is $25.13 and its two-hundred day moving average is $25.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.11 and a quick ratio of 1.29.

Kimball Electronics (NASDAQ:KE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The electronics maker reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The firm had revenue of $352.92 million during the quarter, compared to analyst estimates of $356.27 million. Kimball Electronics had a net margin of 1.81% and a return on equity of 6.22%. Equities analysts predict that Kimball Electronics, Inc. will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on KE shares. Zacks Research raised shares of Kimball Electronics from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Kimball Electronics from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Kimball Electronics from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, KeyCorp began coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They issued a "sector weight" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

Kimball Electronics Profile

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company's core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.

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