Texas Permanent School Fund lifted its stake in shares of Knowles Corp (NYSE:KN) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,028 shares of the communications equipment provider’s stock after buying an additional 2,337 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Knowles worth $786,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Knowles by 26.0% during the third quarter. Russell Investments Group Ltd. now owns 25,626 shares of the communications equipment provider’s stock valued at $426,000 after purchasing an additional 5,284 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Knowles during the third quarter valued at approximately $732,000. Prudential Financial Inc. raised its holdings in shares of Knowles by 20.8% during the third quarter. Prudential Financial Inc. now owns 182,278 shares of the communications equipment provider’s stock valued at $3,029,000 after purchasing an additional 31,440 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Knowles by 13.1% during the third quarter. Bank of New York Mellon Corp now owns 1,180,405 shares of the communications equipment provider’s stock valued at $19,618,000 after purchasing an additional 136,418 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Knowles by 76.6% during the third quarter. PNC Financial Services Group Inc. now owns 56,006 shares of the communications equipment provider’s stock valued at $932,000 after purchasing an additional 24,293 shares during the last quarter.
Several research analysts have recently weighed in on the stock. ValuEngine raised shares of Knowles from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Zacks Investment Research upgraded shares of Knowles from a “sell” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research report on Thursday, March 14th. TheStreet upgraded shares of Knowles from a “c” rating to a “b” rating in a research report on Friday, February 8th. Lake Street Capital lowered shares of Knowles from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research report on Friday, February 8th. Finally, Craig Hallum restated a “buy” rating and set a $18.00 target price (down from $19.00) on shares of Knowles in a research report on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Knowles presently has a consensus rating of “Buy” and an average price target of $16.93.
In related news, CEO Jeffrey Niew sold 11,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $16.01, for a total transaction of $186,180.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 3,099 shares of company stock valued at $45,129 over the last 90 days. 3.70% of the stock is currently owned by company insiders.
Shares of NYSE KN opened at $16.68 on Wednesday. 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 company has a market cap of $1.49 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.98 and a beta of 1.09. Knowles Corp has a 12-month low of $10.94 and a 12-month high of $18.32.
Knowles (NYSE:KN) last announced its earnings results on Thursday, February 7th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $223.80 million during the quarter, compared to analyst estimates of $224.42 million. Knowles had a net margin of 8.19% and a return on equity of 6.08%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Equities research analysts anticipate that Knowles Corp will post 0.84 EPS for the current year.
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Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medical, defense, aerospace, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.
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