First Trust Advisors LP bought a new stake in Knowles Corporation (NYSE:KN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,812 shares of the communications equipment provider’s stock, valued at approximately $364,000.
Other large investors have also made changes to their positions in the company. Riverhead Capital Management LLC raised its holdings in shares of Knowles by 88.1% in the second quarter. Riverhead Capital Management LLC now owns 6,959 shares of the communications equipment provider’s stock valued at $118,000 after buying an additional 3,259 shares during the last quarter. ING Groep NV purchased a new stake in shares of Knowles in the second quarter valued at about $184,000. Raymond James Trust N.A. raised its holdings in Knowles by 9.4% during the second quarter. Raymond James Trust N.A. now owns 11,017 shares of the communications equipment provider’s stock worth $187,000 after purchasing an additional 948 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Knowles during the second quarter worth about $203,000. Finally, Amalgamated Bank raised its holdings in Knowles by 0.9% during the second quarter. Amalgamated Bank now owns 12,533 shares of the communications equipment provider’s stock worth $212,000 after purchasing an additional 117 shares in the last quarter.
Knowles Corporation (KN) traded down $0.03 during midday trading on Monday, reaching $14.59. 1,363,100 shares of the company traded hands, compared to its average volume of 801,045. The stock has a market capitalization of $1,305.34, a PE ratio of 21.46, a P/E/G ratio of 2.35 and a beta of 0.76. Knowles Corporation has a 52-week low of $14.11 and a 52-week high of $19.90. The company has a quick ratio of 1.43, a current ratio of 2.39 and a debt-to-equity ratio of 0.29.
Knowles (NYSE:KN) last posted its quarterly earnings results on Wednesday, October 25th. The communications equipment provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.09. Knowles had a net margin of 0.25% and a return on equity of 6.13%. The firm had revenue of $221.70 million during the quarter, compared to analysts’ expectations of $220.62 million. During the same period in the prior year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. equities research analysts predict that Knowles Corporation will post 0.62 earnings per share for the current year.
Several research analysts recently issued reports on KN shares. Lake Street Capital reissued a “buy” rating and set a $20.00 price target on shares of Knowles in a report on Monday, November 20th. Robert W. Baird reissued a “buy” rating and set a $20.00 price target on shares of Knowles in a report on Friday, October 27th. Zacks Investment Research raised shares of Knowles from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, October 24th. Finally, BidaskClub raised shares of Knowles from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.00.
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Knowles Company Profile
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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