Bank of New York Mellon Corp Trims Stock Holdings in Kimball Electronics, Inc. (NASDAQ:KE)

Bank of New York Mellon Corp trimmed its holdings in Kimball Electronics, Inc. (NASDAQ:KE) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,721 shares of the electronics maker’s stock after selling 4,978 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of Kimball Electronics worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of KE. Point72 DIFC Ltd bought a new position in Kimball Electronics in the 3rd quarter valued at $25,000. Quest Partners LLC purchased a new position in Kimball Electronics in the 3rd quarter worth $61,000. Quantbot Technologies LP raised its position in Kimball Electronics by 995.9% in the 3rd quarter. Quantbot Technologies LP now owns 9,019 shares of the electronics maker’s stock worth $167,000 after purchasing an additional 8,196 shares during the period. Point72 Asset Management L.P. purchased a new position in Kimball Electronics in the 3rd quarter worth $172,000. Finally, SG Americas Securities LLC raised its position in Kimball Electronics by 28.9% in the 4th quarter. SG Americas Securities LLC now owns 11,283 shares of the electronics maker’s stock worth $211,000 after purchasing an additional 2,528 shares during the period. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Kimball Electronics Trading Down 0.3 %

NASDAQ:KE opened at $16.99 on Friday. Kimball Electronics, Inc. has a 52 week low of $15.94 and a 52 week high of $24.45. The company’s 50 day moving average price is $17.69 and its 200-day moving average price is $18.27. The stock has a market cap of $417.19 million, a price-to-earnings ratio of 53.10 and a beta of 1.21. The company has a quick ratio of 1.29, a current ratio of 2.28 and a debt-to-equity ratio of 0.33.

Kimball Electronics (NASDAQ:KE) last posted its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. Kimball Electronics had a net margin of 0.51% and a return on equity of 5.48%. On average, equities research analysts forecast that Kimball Electronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of 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 on the stock in a research report on Thursday, February 6th. Two research 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, Kimball Electronics has an average rating of “Moderate Buy” and an average price target of $22.75.

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.