Point72 Asset Management L.P. Makes New $172,000 Investment in Kimball Electronics, Inc. (NASDAQ:KE)

Point72 Asset Management L.P. purchased a new position in shares of Kimball Electronics, Inc. (NASDAQ:KE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,305 shares of the electronics maker’s stock, valued at approximately $172,000.

Several other institutional investors have also modified their holdings of KE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Kimball Electronics by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 95,526 shares of the electronics maker’s stock worth $1,768,000 after purchasing an additional 556 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Kimball Electronics by 4.6% in the second quarter. Gabelli Funds LLC now owns 32,544 shares of the electronics maker’s stock valued at $715,000 after purchasing an additional 1,428 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Kimball Electronics by 10.3% during the second quarter. Principal Financial Group Inc. now owns 18,531 shares of the electronics maker’s stock worth $407,000 after buying an additional 1,728 shares during the period. Foundry Partners LLC grew its holdings in shares of Kimball Electronics by 1.0% during the third quarter. Foundry Partners LLC now owns 219,055 shares of the electronics maker’s stock worth $4,055,000 after buying an additional 2,100 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Kimball Electronics by 3.5% in the 3rd quarter. Victory Capital Management Inc. now owns 63,129 shares of the electronics maker’s stock valued at $1,169,000 after buying an additional 2,145 shares during the last quarter. Institutional investors own 75.99% of the company’s stock.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reduced their price target on Kimball Electronics from $28.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.25.

Kimball Electronics Trading Down 1.3 %

Kimball Electronics stock opened at $18.93 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.28 and a quick ratio of 1.30. The firm has a 50-day moving average of $18.91 and a 200-day moving average of $19.91. The company has a market cap of $467.19 million, a price-to-earnings ratio of 37.12 and a beta of 1.25. Kimball Electronics, Inc. has a one year low of $16.64 and a one year high of $27.73.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings results on Monday, November 4th. The electronics maker reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $374.26 million during the quarter, compared to the consensus estimate of $376.70 million. Kimball Electronics had a return on equity of 5.63% and a net margin of 0.78%. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts expect that Kimball Electronics, Inc. will post 0.96 earnings per share for the current fiscal year.

About Kimball Electronics

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.