Bank of New York Mellon Corp Grows Position in Kimball Electronics, Inc. (NASDAQ:KE)

Bank of New York Mellon Corp increased its position in Kimball Electronics, Inc. (NASDAQ:KE) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,676 shares of the electronics maker’s stock after purchasing an additional 9,349 shares during the period. Bank of New York Mellon Corp’s holdings in Kimball Electronics were worth $2,587,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Kimball Electronics by 3.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,055 shares of the electronics maker’s stock valued at $651,000 after buying an additional 889 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Kimball Electronics by 16.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 9,644 shares of the electronics maker’s stock valued at $260,000 after acquiring an additional 1,344 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Kimball Electronics by 9.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 20,913 shares of the electronics maker’s stock worth $460,000 after purchasing an additional 1,839 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Kimball Electronics by 7.4% in the 1st quarter. Janus Henderson Group PLC now owns 38,235 shares of the electronics maker’s stock worth $828,000 after purchasing an additional 2,650 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Kimball Electronics by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 352,951 shares of the electronics maker’s stock valued at $9,512,000 after purchasing an additional 3,237 shares during the last quarter. Institutional investors own 75.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kimball Electronics Stock Performance

Shares of KE opened at $17.98 on Tuesday. The firm has a market capitalization of $447.14 million, a P/E ratio of 14.05 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.26 and a quick ratio of 1.36. Kimball Electronics, Inc. has a one year low of $17.09 and a one year high of $28.40. The business has a fifty day moving average of $20.23 and a 200 day moving average of $21.14.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings results on Tuesday, August 13th. The electronics maker reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.08). Kimball Electronics had a net margin of 1.20% and a return on equity of 6.65%. The firm had revenue of $430.16 million for the quarter, compared to the consensus estimate of $429.00 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. As a group, sell-side analysts anticipate that Kimball Electronics, Inc. will post 1.17 EPS for the current 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, 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.