Wells Fargo & Company MN Cuts Stock Position in Kimball Electronics, Inc. (NASDAQ:KE)

Wells Fargo & Company MN decreased its holdings in shares of Kimball Electronics, Inc. (NASDAQ:KE - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 296,879 shares of the electronics maker's stock after selling 35,064 shares during the quarter. Wells Fargo & Company MN owned 1.20% of Kimball Electronics worth $5,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. ExodusPoint Capital Management LP raised its stake in shares of Kimball Electronics by 4.3% during 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 in the last quarter. Victory Capital Management Inc. raised its position in Kimball Electronics by 2.5% during the 4th quarter. Victory Capital Management Inc. now owns 64,684 shares of the electronics maker's stock valued at $1,212,000 after purchasing an additional 1,555 shares in the last quarter. Cardinal Capital Management lifted its holdings in shares of Kimball Electronics by 2.7% in the 4th quarter. Cardinal Capital Management now owns 92,263 shares of the electronics maker's stock worth $1,728,000 after buying an additional 2,459 shares during the period. SG Americas Securities LLC grew its position in shares of Kimball Electronics by 28.9% during the 4th 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. Finally, Sei Investments Co. increased its stake in shares of Kimball Electronics by 6.5% during the fourth quarter. Sei Investments Co. now owns 58,124 shares of the electronics maker's stock valued at $1,089,000 after buying an additional 3,573 shares during the period. 75.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Kimball Electronics Price Performance

Shares of KE stock traded up $0.15 on Thursday, reaching $13.98. 4,891 shares of the company were exchanged, compared to its average volume of 136,222. The company has a market cap of $343.16 million, a price-to-earnings ratio of 43.67 and a beta of 1.18. Kimball Electronics, Inc. has a 1 year low of $12.41 and a 1 year high of $24.45. The business has a 50-day moving average price of $15.85 and a 200 day moving average price of $17.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.29 and a current ratio of 2.28.

Kimball Electronics (NASDAQ:KE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.29 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Kimball Electronics, Inc. will post 0.89 earnings per share for the current fiscal year.

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.