BlackRock Inc. Acquires Shares of 2,440,147 Kimball Electronics, Inc. $KE

Key Points

• BlackRock acquired 2.44 million shares of Kimball Electronics in the second quarter, worth approximately $62.5 million and representing a 10.15% stake. Institutional investors collectively own 75.99% of the company.
• Kimball Electronics reported a quarterly loss of $0.01 per share, missing analysts’ $0.39 estimate, while revenue of $371.57 million was slightly below expectations.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $32 target price versus the stock’s reported $23.46 opening price.

BlackRock Inc. acquired a new position in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,440,147 shares of the electronics maker's stock, valued at approximately $62,468,000. BlackRock Inc. owned 10.15% of Kimball Electronics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in Kimball Electronics in the 2nd quarter valued at approximately $603,000. Bank of New York Mellon Corp purchased a new position in shares of Kimball Electronics during the 2nd quarter worth approximately $2,389,000. State of Wyoming purchased a new position in shares of Kimball Electronics during the 2nd quarter worth approximately $71,000. Wedge Capital Management L L P NC lifted its holdings in shares of Kimball Electronics by 37.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 133,860 shares of the electronics maker's stock valued at $3,427,000 after buying an additional 36,621 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Kimball Electronics in the 2nd quarter valued at approximately $200,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Kimball Electronics Stock Performance

Shares of KE stock opened at $23.46 on Monday. Kimball Electronics, Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $33.19. The stock has a market cap of $562.34 million, a P/E ratio of 20.76, a P/E/G ratio of 0.99 and a beta of 1.23. The business has a fifty day simple moving average of $24.87 and a 200-day simple moving average of $25.01. The company has a quick ratio of 1.27, a current ratio of 2.09 and a debt-to-equity ratio of 0.18.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KE. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Kimball Electronics in a report on Tuesday, August 4th. Wall Street Zen downgraded Kimball Electronics from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. KeyCorp assumed coverage on shares of Kimball Electronics in a research report on Thursday, July 2nd. They set a "sector weight" rating on the stock. 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 given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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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