Principal Financial Group Inc. trimmed its position in Knowles Corporation (NYSE:KN) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,654 shares of the communications equipment provider’s stock after selling 6,948 shares during the quarter. Principal Financial Group Inc. owned 0.41% of Knowles worth $5,629,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Knowles by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,022 shares of the communications equipment provider’s stock valued at $220,000 after acquiring an additional 66 shares during the period. Amalgamated Bank grew its position in Knowles by 0.9% in the second quarter. Amalgamated Bank now owns 12,533 shares of the communications equipment provider’s stock valued at $212,000 after acquiring an additional 117 shares during the period. Retirement Systems of Alabama grew its position in Knowles by 0.5% in the second quarter. Retirement Systems of Alabama now owns 115,023 shares of the communications equipment provider’s stock valued at $1,946,000 after acquiring an additional 520 shares during the period. Arizona State Retirement System grew its position in Knowles by 1.9% in the second quarter. Arizona State Retirement System now owns 37,600 shares of the communications equipment provider’s stock valued at $636,000 after acquiring an additional 700 shares during the period. Finally, Nationwide Fund Advisors grew its position in Knowles by 0.3% in the second quarter. Nationwide Fund Advisors now owns 218,673 shares of the communications equipment provider’s stock valued at $3,700,000 after acquiring an additional 739 shares during the period.
Knowles Corporation (NYSE:KN) traded down $0.03 during trading on Friday, reaching $14.59. The company had a trading volume of 1,363,178 shares, compared to its average volume of 781,965. The company has a market capitalization of $1,308.03, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.30 and a beta of 0.76. Knowles Corporation has a fifty-two week low of $14.11 and a fifty-two week high of $19.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.43 and a current ratio of 2.39.
Knowles (NYSE:KN) last released its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.09. Knowles had a return on equity of 6.13% and a net margin of 0.25%. The firm had revenue of $221.70 million for the quarter, compared to analyst estimates of $220.62 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. research analysts predict that Knowles Corporation will post 0.63 earnings per share for the current fiscal year.
Several analysts have recently commented on KN shares. Zacks Investment Research cut Knowles from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Robert W. Baird restated a “buy” rating and set a $20.00 target price on shares of Knowles in a report on Friday, October 27th. Lake Street Capital restated a “buy” rating and set a $20.00 target price on shares of Knowles in a report on Monday, November 20th. Finally, BidaskClub upgraded 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 assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus 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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