Credit Suisse AG lowered its position in Knowles Corporation (NYSE:KN) by 13.1% during the first quarter, Holdings Channel reports. The institutional investor owned 78,514 shares of the communications equipment provider’s stock after selling 11,836 shares during the period. Credit Suisse AG’s holdings in Knowles Corporation were worth $1,489,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in KN. Norges Bank bought a new stake in Knowles Corporation during the fourth quarter valued at about $1,792,000. Teachers Advisors LLC boosted its stake in Knowles Corporation by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 153,062 shares of the communications equipment provider’s stock valued at $2,558,000 after buying an additional 3,567 shares during the period. Bank of Montreal Can boosted its stake in Knowles Corporation by 6.6% in the first quarter. Bank of Montreal Can now owns 9,048 shares of the communications equipment provider’s stock valued at $172,000 after buying an additional 562 shares during the period. Louisiana State Employees Retirement System boosted its stake in Knowles Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 22,400 shares of the communications equipment provider’s stock valued at $424,000 after buying an additional 500 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Knowles Corporation by 3.8% in the first quarter. Nationwide Fund Advisors now owns 217,934 shares of the communications equipment provider’s stock valued at $4,130,000 after buying an additional 8,048 shares during the period.
Knowles Corporation (NYSE:KN) traded down 1.14% during midday trading on Tuesday, hitting $14.68. 76,109 shares of the stock traded hands. The company’s 50-day moving average is $16.11 and its 200 day moving average is $17.77. The firm’s market cap is $1.31 billion. Knowles Corporation has a 12-month low of $13.32 and a 12-month high of $19.90.
Knowles Corporation (NYSE:KN) last announced its earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $190.20 million during the quarter, compared to analyst estimates of $190.24 million. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. Knowles Corporation’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, analysts anticipate that Knowles Corporation will post $0.95 EPS for the current fiscal year.
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Several equities research analysts have issued reports on the stock. Dougherty & Co assumed coverage on shares of Knowles Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $22.00 price objective for the company. BidaskClub cut shares of Knowles Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut shares of Knowles Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $18.33.
In related news, insider Michael S. Polacek bought 3,246 shares of the stock in a transaction on Friday, August 4th. The stock was bought at an average price of $15.40 per share, with a total value of $49,988.40. Following the completion of the purchase, the insider now directly owns 42,866 shares in the company, valued at approximately $660,136.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.20% of the company’s stock.
Knowles Corporation 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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