State of Alaska Department of Revenue boosted its stake in shares of Knowles Corp (NYSE:KN) by 112.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,796 shares of the communications equipment provider’s stock after purchasing an additional 34,854 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of Knowles worth $1,338,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Northern Trust Corp lifted its position in Knowles by 7.3% in the second quarter. Northern Trust Corp now owns 2,201,540 shares of the communications equipment provider’s stock worth $40,310,000 after purchasing an additional 150,415 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Knowles by 1.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,497,769 shares of the communications equipment provider’s stock valued at $27,424,000 after purchasing an additional 15,652 shares in the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Knowles by 6.9% during the 2nd quarter. Granite Investment Partners LLC now owns 1,426,468 shares of the communications equipment provider’s stock valued at $26,119,000 after purchasing an additional 91,519 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Knowles by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,244,022 shares of the communications equipment provider’s stock valued at $22,780,000 after purchasing an additional 33,489 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Knowles during the 2nd quarter valued at about $19,276,000.
KN stock opened at $20.73 on Friday. The stock has a market capitalization of $1.85 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.44 and a beta of 1.17. The firm has a 50-day simple moving average of $20.46 and a 200-day simple moving average of $18.66. The company has a quick ratio of 1.59, a current ratio of 2.85 and a debt-to-equity ratio of 0.16. Knowles Corp has a 52 week low of $12.20 and a 52 week high of $21.42.
Knowles (NYSE:KN) last released its earnings results on Wednesday, July 24th. The communications equipment provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Knowles had a net margin of 7.88% and a return on equity of 6.27%. The business had revenue of $205.20 million during the quarter, compared to analysts’ expectations of $195.06 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts expect that Knowles Corp will post 0.83 earnings per share for the current year.
In other news, CEO Jeffrey Niew sold 4,866 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $20.75, for a total value of $100,969.50. Following the transaction, the chief executive officer now directly owns 336,864 shares in the company, valued at approximately $6,989,928. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John S. Anderson sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $20.40, for a total transaction of $153,000.00. Following the completion of the transaction, the chief financial officer now owns 76,812 shares in the company, valued at $1,566,964.80. The disclosure for this sale can be found here. Insiders sold a total of 72,086 shares of company stock worth $1,440,538 over the last quarter. 3.70% of the stock is currently owned by company insiders.
KN has been the topic of several recent analyst reports. ValuEngine cut Knowles from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Robert W. Baird set a $22.00 price objective on shares of Knowles and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lifted their price objective on shares of Knowles from $17.50 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, September 18th. Zacks Investment Research cut shares of Knowles from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Susquehanna Bancshares raised shares of Knowles from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $20.00 to $22.00 in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.29.
Knowles Company Profile
Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medical, defense, aerospace, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.
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