BlackRock Inc. boosted its position in Knowles Corp (NYSE:KN) by 29.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,124,114 shares of the communications equipment provider’s stock after purchasing an additional 2,726,475 shares during the period. BlackRock Inc. owned about 13.46% of Knowles worth $185,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KN. NJ State Employees Deferred Compensation Plan grew its holdings in Knowles by 24.0% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 15,500 shares of the communications equipment provider’s stock valued at $237,000 after buying an additional 3,000 shares during the last quarter. Bbva Compass Bancshares Inc. grew its holdings in Knowles by 24.4% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 17,055 shares of the communications equipment provider’s stock valued at $261,000 after buying an additional 3,350 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in Knowles by 38.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,472 shares of the communications equipment provider’s stock valued at $237,000 after buying an additional 4,290 shares during the last quarter. Atria Investments LLC grew its holdings in Knowles by 33.3% during the 2nd quarter. Atria Investments LLC now owns 17,295 shares of the communications equipment provider’s stock valued at $265,000 after buying an additional 4,319 shares during the last quarter. Finally, Pitcairn Co. grew its holdings in Knowles by 32.5% during the 1st quarter. Pitcairn Co. now owns 22,742 shares of the communications equipment provider’s stock valued at $286,000 after buying an additional 5,581 shares during the last quarter.

In other news, VP Thomas G. Jackson sold 2,756 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $18.23, for a total transaction of $50,241.88. Following the sale, the vice president now owns 31,375 shares in the company, valued at $571,966.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael S. Polacek acquired 1,634 shares of the firm’s stock in a transaction dated Thursday, July 26th. The shares were acquired at an average price of $18.30 per share, for a total transaction of $29,902.20. Following the acquisition, the insider now directly owns 65,878 shares of the company’s stock, valued at $1,205,567.40. The disclosure for this purchase can be found here. 3.70% of the stock is owned by company insiders.

KN stock opened at $16.42 on Wednesday. Knowles Corp has a 52-week low of $10.94 and a 52-week high of $18.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.43 and a current ratio of 2.56. The firm has a market cap of $1.49 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.01.

Knowles (NYSE:KN) last posted its quarterly earnings data on Tuesday, July 24th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. Knowles had a return on equity of 6.08% and a net margin of 13.12%. The business had revenue of $188.40 million for the quarter, compared to analysts’ expectations of $179.86 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. equities research analysts predict that Knowles Corp will post 0.67 EPS for the current fiscal year.

A number of equities research analysts have commented on KN shares. JPMorgan Chase & Co. cut Knowles from a “neutral” rating to an “underweight” rating and set a $13.50 target price on the stock. in a report on Friday, August 3rd. Piper Jaffray Companies reiterated a “hold” rating and set a $16.50 target price on shares of Knowles in a report on Wednesday, July 25th. Dougherty & Co cut Knowles from a “buy” rating to a “neutral” rating in a report on Wednesday, July 25th. ValuEngine upgraded Knowles from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Finally, Craig Hallum increased their target price on Knowles from $16.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.50.

Knowles Company Profile

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.

Further Reading: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Knowles (NYSE:KN)

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