Hodges Capital Management Inc. decreased its stake in shares of Knowles Corporation (NYSE:KN) by 54.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,500 shares of the communications equipment provider’s stock after selling 207,655 shares during the period. Hodges Capital Management Inc. owned 0.19% of Knowles Corporation worth $2,885,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in KN. BlackRock Inc. increased its stake in shares of Knowles Corporation by 16,850.3% in the first quarter. BlackRock Inc. now owns 9,107,540 shares of the communications equipment provider’s stock valued at $172,588,000 after buying an additional 9,053,809 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Knowles Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 7,326,833 shares of the communications equipment provider’s stock valued at $138,844,000 after buying an additional 300,512 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Knowles Corporation by 32.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,837,084 shares of the communications equipment provider’s stock valued at $53,763,000 after buying an additional 696,122 shares in the last quarter. State Street Corp increased its stake in shares of Knowles Corporation by 1.5% in the first quarter. State Street Corp now owns 2,760,302 shares of the communications equipment provider’s stock valued at $52,307,000 after buying an additional 39,791 shares in the last quarter. Finally, Rothschild Asset Management Inc. increased its stake in shares of Knowles Corporation by 5.8% in the second quarter. Rothschild Asset Management Inc. now owns 1,751,743 shares of the communications equipment provider’s stock valued at $29,639,000 after buying an additional 95,443 shares in the last quarter.
Shares of Knowles Corporation (KN) traded down 0.91% on Friday, reaching $14.17. 696,398 shares of the company’s stock traded hands. Knowles Corporation has a 52 week low of $13.32 and a 52 week high of $19.90. The firm’s market capitalization is $1.27 billion. The firm’s 50 day moving average is $15.79 and its 200 day moving average is $17.67.
Knowles Corporation (NYSE:KN) last issued its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $190.20 million for the quarter, compared to analyst estimates of $190.24 million. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Analysts expect that Knowles Corporation will post $0.95 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on KN. Zacks Investment Research downgraded shares of Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Knowles Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Dougherty & Co initiated coverage on shares of Knowles Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.33.
In other news, insider Michael S. Polacek bought 3,246 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average cost of $15.40 per share, for a total transaction of $49,988.40. Following the completion of the purchase, the insider now owns 42,866 shares of the company’s stock, valued at $660,136.40. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
About Knowles Corporation
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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