Knowles Corp (KN) Stake Raised by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP grew its position in Knowles Corp (NYSE:KN) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,585,417 shares of the communications equipment provider’s stock after acquiring an additional 725,618 shares during the quarter. Dimensional Fund Advisors LP owned about 0.08% of Knowles worth $126,068,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new position in Knowles in the 2nd quarter worth about $175,000. UBS Group AG increased its stake in Knowles by 112.3% in the 1st quarter. UBS Group AG now owns 14,620 shares of the communications equipment provider’s stock worth $184,000 after buying an additional 7,733 shares during the period. We Are One Seven LLC purchased a new position in Knowles in the 3rd quarter worth about $232,000. NJ State Employees Deferred Compensation Plan increased its stake in Knowles by 24.0% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 15,500 shares of the communications equipment provider’s stock worth $237,000 after buying an additional 3,000 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Knowles by 38.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,472 shares of the communications equipment provider’s stock worth $237,000 after buying an additional 4,290 shares during the period.
A number of research analysts have commented on the stock. ValuEngine raised shares of Knowles from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research raised shares of Knowles from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, October 31st. Roth Capital cut their target price on shares of Knowles from $22.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Finally, Robert W. Baird reissued a “buy” rating and set a $18.00 target price on shares of Knowles in a research report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.14.
Knowles (NYSE:KN) last posted its earnings results on Wednesday, October 24th. The communications equipment provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $236.20 million for the quarter, compared to the consensus estimate of $219.73 million. Knowles had a net margin of 8.99% and a return on equity of 6.40%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. On average, equities research analysts expect that Knowles Corp will post 0.7 EPS for the current year.
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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.
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