State Street Corp increased its position in shares of Knowles Corporation (NYSE:KN) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,760,302 shares of the communications equipment provider’s stock after buying an additional 39,791 shares during the period. State Street Corp owned 3.09% of Knowles Corporation worth $52,307,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Knowles Corporation by 53.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,140,962 shares of the communications equipment provider’s stock worth $35,776,000 after buying an additional 749,385 shares during the last quarter. Bank of Montreal Can boosted its stake in Knowles Corporation by 6.6% in the first quarter. Bank of Montreal Can now owns 9,048 shares of the communications equipment provider’s stock worth $172,000 after buying an additional 562 shares during the last quarter. Royce & Associates LP boosted its stake in Knowles Corporation by 10.8% in the first quarter. Royce & Associates LP now owns 674,677 shares of the communications equipment provider’s stock worth $12,785,000 after buying an additional 66,000 shares during the last quarter. Trexquant Investment LP acquired a new stake in Knowles Corporation during the first quarter worth about $277,000. Finally, Canada Pension Plan Investment Board boosted its stake in Knowles Corporation by 31.5% in the first quarter. Canada Pension Plan Investment Board now owns 9,600 shares of the communications equipment provider’s stock valued at $182,000 after buying an additional 2,300 shares during the last quarter.
Knowles Corporation (KN) traded down 0.91% during trading on Friday, reaching $14.17. The company’s stock had a trading volume of 696,398 shares. The stock’s 50 day moving average is $15.79 and its 200 day moving average is $17.67. Knowles Corporation has a 12 month low of $13.32 and a 12 month high of $19.90. The company’s market cap is $1.27 billion.
Knowles Corporation (NYSE:KN) last issued its quarterly earnings data 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. Knowles Corporation had a positive return on equity of 6.98% and a negative net margin of 2.44%. The company had revenue of $190.20 million for the quarter, compared to the consensus estimate of $190.24 million. During the same quarter last year, the business posted $0.13 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, equities analysts expect that Knowles Corporation will post $0.95 EPS for the current fiscal year.
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Several research firms recently weighed in on KN. Zacks Investment Research cut Knowles Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Dougherty & Co began coverage on Knowles Corporation in a report on Thursday, June 8th. They set a “buy” rating and a $22.00 price target for the company. Finally, BidaskClub cut Knowles Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Knowles Corporation presently has a consensus rating of “Hold” and an average price target of $18.33.
In other news, insider Michael S. Polacek bought 3,246 shares of Knowles Corporation stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $15.40 per share, with a total value of $49,988.40. Following the completion of the purchase, the insider now directly owns 42,866 shares in the company, valued at $660,136.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.20% of the company’s stock.
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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