Wellington Management Group LLP Buys Shares of 34,050 Kimball Electronics, Inc. $KE

Wellington Management Group LLP purchased a new stake in Kimball Electronics, Inc. (NASDAQ:KE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 34,050 shares of the electronics maker’s stock, valued at approximately $872,000. Wellington Management Group LLP owned approximately 0.14% of Kimball Electronics as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in Kimball Electronics by 74.6% in the first quarter. NewEdge Advisors LLC now owns 187,186 shares of the electronics maker’s stock worth $4,434,000 after buying an additional 80,000 shares in the last quarter. Oxford Financial Group LTD. LLC bought a new stake in Kimball Electronics during the 2nd quarter valued at $7,314,000. Empowered Funds LLC purchased a new position in shares of Kimball Electronics in the 2nd quarter valued at $3,571,000. Canada Pension Plan Investment Board purchased a new position in shares of Kimball Electronics in the 2nd quarter valued at $671,000. Finally, Globeflex Capital L P purchased a new position in shares of Kimball Electronics in the 2nd quarter valued at $3,207,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Kimball Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Wall Street Zen lowered Kimball Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. KeyCorp started coverage on shares of Kimball Electronics in a report on Thursday, July 2nd. They issued a “sector weight” rating for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kimball Electronics in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Kimball Electronics Stock Up 5.3%

Shares of KE stock opened at $26.17 on Friday. The stock’s fifty day moving average price is $24.80 and its 200 day moving average price is $25.03. Kimball Electronics, Inc. has a 1-year low of $21.01 and a 1-year high of $33.19. The company has a market cap of $627.29 million, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 1.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.09 and a quick ratio of 1.27.

Kimball Electronics (NASDAQ:KE) last released its quarterly earnings results on Wednesday, August 12th. The electronics maker reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Kimball Electronics had a net margin of 1.95% and a return on equity of 4.41%. The business had revenue of $371.57 million during the quarter, compared to analysts’ expectations of $373.63 million. On average, research analysts expect that Kimball Electronics, Inc. will post 1.18 earnings per share for the current fiscal year.

About Kimball Electronics

Kimball Electronics, Inc is a global electronic manufacturing services (EMS) provider headquartered in Jasper, Tennessee. The company offers end-to-end product design and manufacturing solutions, serving original equipment manufacturers (OEMs) across a range of industries. With a focus on precision electronics and complex assemblies, Kimball Electronics leverages advanced engineering capabilities, quality systems and lean production methods to support customers from product concept through full-scale production.

The company’s core offerings include printed circuit board assembly (PCBA), system integration, tooling and test fixture development, and aftermarket services.