NJ State Employees Deferred Compensation Plan Boosts Stock Position in Knowles Corp (NYSE:KN)

NJ State Employees Deferred Compensation Plan raised its stake in Knowles Corp (NYSE:KN) by 176.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,500 shares of the communications equipment provider’s stock after purchasing an additional 22,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Knowles were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan purchased a new position in Knowles in the fourth quarter valued at about $427,000. Norges Bank purchased a new position in Knowles in the fourth quarter valued at about $9,771,000. CWM LLC grew its stake in Knowles by 6.4% in the first quarter. CWM LLC now owns 578,015 shares of the communications equipment provider’s stock valued at $10,190,000 after purchasing an additional 34,540 shares during the last quarter. Comerica Bank grew its stake in Knowles by 2.0% in the first quarter. Comerica Bank now owns 89,571 shares of the communications equipment provider’s stock valued at $1,634,000 after purchasing an additional 1,741 shares during the last quarter. Finally, Selz Capital LLC purchased a new position in Knowles in the first quarter valued at about $176,000.

Shares of KN stock traded down $0.39 during trading hours on Friday, reaching $19.66. 610,303 shares of the company’s stock were exchanged, compared to its average volume of 970,435. Knowles Corp has a 1 year low of $12.20 and a 1 year high of $20.99. The stock has a market cap of $1.83 billion, a PE ratio of 24.58, a PEG ratio of 2.42 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.59 and a current ratio of 2.85. The firm has a fifty day moving average price of $18.07.

Knowles (NYSE:KN) last issued its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Knowles had a return on equity of 6.27% and a net margin of 7.88%. The business had revenue of $205.20 million for the quarter, compared to analyst estimates of $195.06 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Knowles Corp will post 0.83 earnings per share for the current fiscal year.

In related news, CEO Jeffrey Niew sold 20,000 shares of Knowles stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the chief executive officer now owns 313,839 shares of the company’s stock, valued at $6,276,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian Scherp sold 10,000 shares of Knowles stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the insider now directly owns 63,210 shares of the company’s stock, valued at approximately $1,264,200. The disclosure for this sale can be found here. Insiders have sold 57,000 shares of company stock worth $1,131,625 in the last 90 days. Insiders own 3.70% of the company’s stock.

KN has been the topic of several analyst reports. Susquehanna Bancshares upgraded Knowles from a “neutral” rating to a “positive” rating and lifted their target price for the company from $20.00 to $22.00 in a research note on Thursday, July 25th. ValuEngine upgraded Knowles from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Craig Hallum restated a “buy” rating and set a $23.00 price target (up previously from $22.00) on shares of Knowles in a research note on Thursday, July 25th. Robert W. Baird set a $22.00 price target on Knowles and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Zacks Investment Research lowered Knowles from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Knowles has a consensus rating of “Buy” and an average price target of $19.71.

Knowles Company 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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