Rhumbline Advisers grew its stake in shares of Knowles Corp (NYSE:KN) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 265,678 shares of the communications equipment provider’s stock after purchasing an additional 44,129 shares during the quarter. Rhumbline Advisers owned 0.29% of Knowles worth $3,536,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of KN. Granite Investment Partners LLC acquired a new position in shares of Knowles in the third quarter worth about $20,751,000. Dimensional Fund Advisors LP lifted its stake in shares of Knowles by 10.6% in the third quarter. Dimensional Fund Advisors LP now owns 7,585,417 shares of the communications equipment provider’s stock worth $126,068,000 after acquiring an additional 725,618 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Knowles by 4.5% in the third quarter. BlackRock Inc. now owns 12,667,048 shares of the communications equipment provider’s stock worth $210,527,000 after acquiring an additional 542,934 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Knowles in the third quarter worth about $6,648,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Knowles by 1,680.7% in the third quarter. Renaissance Technologies LLC now owns 198,978 shares of the communications equipment provider’s stock worth $3,307,000 after acquiring an additional 187,804 shares in the last quarter.
Shares of Knowles stock opened at $16.28 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.57 and a quick ratio of 1.59. The stock has a market capitalization of $1.47 billion, a P/E ratio of 20.35, a PEG ratio of 1.95 and a beta of 1.08. Knowles Corp has a fifty-two week low of $10.94 and a fifty-two week high of $18.32.
Knowles (NYSE:KN) last announced its quarterly earnings data on Thursday, February 7th. The communications equipment provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The firm had revenue of $223.80 million during the quarter, compared to analyst estimates of $224.42 million. Knowles had a return on equity of 6.08% and a net margin of 8.19%. Knowles’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. Equities research analysts anticipate that Knowles Corp will post 0.84 earnings per share for the current fiscal year.
KN has been the topic of several recent analyst reports. Craig Hallum reiterated a “buy” rating and issued a $18.00 price target (down previously from $19.00) on shares of Knowles in a research note on Tuesday, January 15th. Lake Street Capital reiterated a “buy” rating and issued a $17.00 price target on shares of Knowles in a research note on Monday, January 14th. JPMorgan Chase & Co. set a $13.00 price target on Knowles and gave the stock a “sell” rating in a research note on Friday, January 4th. Robert W. Baird reiterated a “buy” rating on shares of Knowles in a research note on Friday, January 11th. Finally, TheStreet upgraded Knowles from a “c” rating to a “b” rating in a research note on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.64.
In related news, CEO Jeffrey Niew sold 11,629 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $16.01, for a total value of $186,180.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders purchased 3,144 shares of company stock valued at $44,968. 3.70% of the stock is owned by corporate insiders.
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Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.
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