American International Group Inc. boosted its position in shares of Knowles Corporation (NYSE:KN) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 242,044 shares of the communications equipment provider’s stock after purchasing an additional 6,830 shares during the quarter. American International Group Inc. owned approximately 0.27% of Knowles worth $3,696,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC purchased a new stake in shares of Knowles in the second quarter valued at $181,842,000. Dimensional Fund Advisors LP lifted its position in Knowles by 27.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,618,463 shares of the communications equipment provider’s stock worth $61,225,000 after buying an additional 781,379 shares during the period. Northern Trust Corp lifted its position in Knowles by 53.6% during the second quarter. Northern Trust Corp now owns 2,152,618 shares of the communications equipment provider’s stock worth $36,423,000 after buying an additional 751,386 shares during the period. Goldman Sachs Group Inc. lifted its position in Knowles by 125.5% during the second quarter. Goldman Sachs Group Inc. now owns 803,070 shares of the communications equipment provider’s stock worth $13,588,000 after buying an additional 446,879 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Knowles during the third quarter worth about $4,447,000.
Several equities analysts recently weighed in on KN shares. Zacks Investment Research upgraded Knowles from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Tuesday, October 24th. BidaskClub upgraded Knowles from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Lake Street Capital restated a “buy” rating and set a $20.00 price target on shares of Knowles in a research note on Monday, November 20th. Finally, Robert W. Baird restated a “buy” rating and set a $20.00 price target on shares of Knowles in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Knowles has an average rating of “Hold” and a consensus target price of $19.00.
Knowles Corporation (NYSE KN) traded down $0.60 during mid-day trading on Thursday, hitting $14.39. The stock had a trading volume of 1,467,500 shares, compared to its average volume of 797,820. The company has a current ratio of 2.39, a quick ratio of 1.43 and a debt-to-equity ratio of 0.29. Knowles Corporation has a fifty-two week low of $14.11 and a fifty-two week high of $19.90. The firm has a market capitalization of $1,341.13, a price-to-earnings ratio of 22.04, a P/E/G ratio of 2.34 and a beta of 0.76.
Knowles (NYSE:KN) last posted its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. The business had revenue of $221.70 million during the quarter, compared to analyst estimates of $220.62 million. Knowles had a return on equity of 6.13% and a net margin of 0.25%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. research analysts expect that Knowles Corporation will post 0.64 EPS for the current fiscal year.
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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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