Pacific Ridge Capital Partners LLC Sells 13,851 Shares of Kimball Electronics, Inc. (NASDAQ:KE)

Key Points

• Pacific Ridge Capital Partners LLC reduced its stake in Kimball Electronics by 3.9%, now owning 343,449 shares, worth approximately $5.65 million.
• Several hedge funds have increased their positions, with Arrowstreet Capital growing its stake by 239.9% in the last quarter, and Vanguard Group increasing its holdings by 5%.
• Wall Street analysts have upgraded Kimball Electronics from a "hold" to a "buy" rating, with an average target price of $22.75.

Pacific Ridge Capital Partners LLC decreased its position in Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 343,449 shares of the electronics maker's stock after selling 13,851 shares during the quarter. Kimball Electronics comprises 1.5% of Pacific Ridge Capital Partners LLC's investment portfolio, making the stock its 26th largest holding. Pacific Ridge Capital Partners LLC owned 1.40% of Kimball Electronics worth $5,650,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kimball Electronics by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,063 shares of the electronics maker's stock worth $263,000 after buying an additional 608 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Kimball Electronics by 2.2% in the first quarter. SummerHaven Investment Management LLC now owns 36,888 shares of the electronics maker's stock valued at $607,000 after acquiring an additional 791 shares during the period. ExodusPoint Capital Management LP grew 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 valued at $446,000 after acquiring an additional 979 shares during the period. BNP Paribas Financial Markets grew its position in Kimball Electronics by 3.7% in the fourth quarter. BNP Paribas Financial Markets now owns 28,937 shares of the electronics maker's stock valued at $542,000 after acquiring an additional 1,039 shares during the period. Finally, Sherbrooke Park Advisers LLC grew its position in Kimball Electronics by 8.2% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 20,006 shares of the electronics maker's stock valued at $375,000 after acquiring an additional 1,516 shares during the period. Institutional investors own 75.99% of the company's stock.

Kimball Electronics Stock Up 0.7%

Shares of KE traded up $0.13 on Wednesday, reaching $19.01. The company's stock had a trading volume of 31,362 shares, compared to its average volume of 146,208. The stock has a market capitalization of $463.34 million, a PE ratio of 26.77 and a beta of 1.22. The firm has a fifty day moving average of $19.14 and a 200-day moving average of $17.44. Kimball Electronics, Inc. has a twelve month low of $12.41 and a twelve month high of $21.52. The company has a current ratio of 2.14, a quick ratio of 1.24 and a debt-to-equity ratio of 0.27.

Kimball Electronics (NASDAQ:KE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The electronics maker reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. Kimball Electronics had a return on equity of 5.17% and a net margin of 1.17%. The business had revenue of $374.61 million during the quarter, compared to analyst estimates of $338.08 million. Equities analysts predict that Kimball Electronics, Inc. will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Kimball Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.75.

Kimball Electronics Company 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.