Millennium Management LLC Lowers Stock Holdings in Kimball Electronics, Inc. (NASDAQ:KE)

Millennium Management LLC cut its holdings in shares of Kimball Electronics, Inc. (NASDAQ:KE) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,408 shares of the electronics maker’s stock after selling 11,689 shares during the period. Millennium Management LLC’s holdings in Kimball Electronics were worth $3,899,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KE. Quadrature Capital Ltd boosted its holdings in Kimball Electronics by 40.9% in the fourth quarter. Quadrature Capital Ltd now owns 13,948 shares of the electronics maker’s stock valued at $376,000 after purchasing an additional 4,048 shares during the period. Cardinal Capital Management grew its position in shares of Kimball Electronics by 39.0% during the first quarter. Cardinal Capital Management now owns 64,538 shares of the electronics maker’s stock worth $1,397,000 after buying an additional 18,096 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Kimball Electronics during the first quarter worth about $364,000. BNP Paribas Financial Markets increased its stake in shares of Kimball Electronics by 17.6% during the first quarter. BNP Paribas Financial Markets now owns 25,923 shares of the electronics maker’s stock worth $561,000 after buying an additional 3,873 shares during the period. Finally, Empowered Funds LLC raised its holdings in Kimball Electronics by 70.2% in the first quarter. Empowered Funds LLC now owns 54,864 shares of the electronics maker’s stock valued at $1,188,000 after acquiring an additional 22,625 shares in the last quarter. Institutional investors and hedge funds own 75.99% of the company’s stock.

Kimball Electronics Stock Performance

NASDAQ KE opened at $17.65 on Monday. The stock has a market capitalization of $438.94 million, a price-to-earnings ratio of 13.79 and a beta of 1.26. The business’s 50 day moving average is $18.24 and its two-hundred day moving average is $20.70. Kimball Electronics, Inc. has a 12-month low of $16.64 and a 12-month high of $27.85. The company has a current ratio of 2.26, a quick ratio of 1.36 and a debt-to-equity ratio of 0.43.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings data on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.08). The business had revenue of $430.16 million during the quarter, compared to analysts’ expectations of $429.00 million. Kimball Electronics had a return on equity of 6.65% and a net margin of 1.20%. During the same quarter in the previous year, the company posted $0.76 EPS. Research analysts expect that Kimball Electronics, Inc. will post 1.17 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Lake Street Capital lowered their price objective on Kimball Electronics from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Cantor Fitzgerald lowered their price target on Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, August 16th. EF Hutton Acquisition Co. I downgraded shares of Kimball Electronics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Sidoti lowered Kimball Electronics from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, August 15th. Finally, B. Riley decreased their price objective on Kimball Electronics from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.25.

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, industrial, and public safety end markets. It provides electronics manufacturing services, including engineering and supply chain support, to customers in the automotive, medical, and industrial end market verticals.