Bank of New York Mellon Corp Raises Stake in Knowles Corp (KN)

Bank of New York Mellon Corp grew its position in shares of Knowles Corp (NYSE:KN) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,224,664 shares of the communications equipment provider’s stock after purchasing an additional 44,259 shares during the period. Bank of New York Mellon Corp owned approximately 1.36% of Knowles worth $16,300,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in Knowles by 26.0% during the third quarter. Russell Investments Group Ltd. now owns 25,626 shares of the communications equipment provider’s stock worth $426,000 after buying an additional 5,284 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Knowles during the third quarter worth approximately $732,000. Prudential Financial Inc. grew its position in Knowles by 20.8% during the third quarter. Prudential Financial Inc. now owns 182,278 shares of the communications equipment provider’s stock worth $3,029,000 after buying an additional 31,440 shares in the last quarter. PNC Financial Services Group Inc. grew its position in 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 worth $932,000 after buying an additional 24,293 shares in the last quarter. Finally, BlackRock Inc. grew its position in Knowles by 4.5% during the third quarter. BlackRock Inc. now owns 12,667,048 shares of the communications equipment provider’s stock worth $210,527,000 after buying an additional 542,934 shares in the last quarter.

In other news, CEO Jeffrey Niew sold 11,629 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $16.01, for a total value of $186,180.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 2,739 shares of company stock valued at $45,128 over the last quarter. 3.70% of the stock is owned by corporate insiders.

KN has been the topic of a number of research analyst reports. TheStreet raised Knowles from a “c” rating to a “b” rating in a report on Friday, February 8th. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 target price (down previously from $19.00) on shares of Knowles in a report on Tuesday, January 15th. Lake Street Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Knowles in a report on Monday, January 14th. Robert W. Baird reaffirmed a “buy” rating on shares of Knowles in a report on Friday, January 11th. Finally, ValuEngine raised Knowles from a “hold” rating to a “buy” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.21.

Shares of KN traded up $0.02 during trading hours on Wednesday, reaching $18.47. The stock had a trading volume of 1,144,206 shares, compared to its average volume of 960,809. Knowles Corp has a 12 month low of $10.96 and a 12 month high of $19.29. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 2.57.

Knowles (NYSE:KN) last announced its quarterly earnings results on Thursday, February 7th. The communications equipment provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.08. Knowles had a return on equity of 6.08% and a net margin of 8.19%. The company had revenue of $223.80 million during the quarter, compared to analysts’ expectations of $224.42 million. During the same period in the prior year, the company earned $0.40 EPS. Knowles’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that Knowles Corp will post 0.84 EPS for the current year.

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Knowles Profile

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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Institutional Ownership by Quarter for Knowles (NYSE:KN)

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