Bank of New York Mellon Corp Buys Shares of 93,325 Kimball Electronics, Inc. $KE

Key Points

• Bank of New York Mellon initiated a stake of 93,325 Kimball Electronics shares worth approximately $2.39 million, representing about 0.39% of the company. Institutional investors collectively own 75.99% of the stock.
• Analysts maintain a generally positive outlook, with Kimball Electronics receiving a consensus “Moderate Buy” rating and an average price target of $32.00.
• Kimball Electronics reported a quarterly loss of $0.01 per share, missing estimates by $0.40, while revenue of $371.57 million was slightly below expectations.

Bank of New York Mellon Corp bought a new stake in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 93,325 shares of the electronics maker's stock, valued at approximately $2,389,000. Bank of New York Mellon Corp owned about 0.39% of Kimball Electronics at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Kimball Electronics by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 1,995,742 shares of the electronics maker's stock worth $55,522,000 after purchasing an additional 48,456 shares during the last quarter. Geode Capital Management LLC lifted its position in Kimball Electronics by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 677,488 shares of the electronics maker's stock valued at $18,852,000 after purchasing an additional 6,586 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Kimball Electronics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 515,409 shares of the electronics maker's stock valued at $14,339,000 after purchasing an additional 59,446 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Kimball Electronics by 16.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 479,220 shares of the electronics maker's stock valued at $14,310,000 after purchasing an additional 67,299 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Kimball Electronics by 2.2% during the 4th quarter. BNP Paribas Financial Markets now owns 266,694 shares of the electronics maker's stock worth $7,419,000 after acquiring an additional 5,844 shares during the period. 75.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Kimball Electronics Stock Performance

NASDAQ KE opened at $25.03 on Tuesday. Kimball Electronics, Inc. has a twelve month low of $21.01 and a twelve month high of $33.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.27 and a current ratio of 2.09. The stock has a market cap of $599.97 million, a price-to-earnings ratio of 22.15, a PEG ratio of 1.06 and a beta of 1.20. The firm's 50 day moving average price is $24.80 and its two-hundred day moving average price is $25.02.

Kimball Electronics (NASDAQ:KE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The electronics maker reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). Kimball Electronics had a return on equity of 4.41% and a net margin of 1.95%.The business had revenue of $371.57 million during the quarter, compared to analysts' expectations of $373.63 million. Equities analysts anticipate that Kimball Electronics, Inc. will post 1.18 EPS for the current year.

About Kimball Electronics

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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