Lapides Asset Management LLC Has $11.13 Million Position in Knowles Corporation (KN)
Lapides Asset Management LLC lessened its holdings in Knowles Corporation (NYSE:KN) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 728,800 shares of the communications equipment provider’s stock after selling 84,400 shares during the period. Knowles Corporation accounts for about 2.3% of Lapides Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Lapides Asset Management LLC owned approximately 0.81% of Knowles Corporation worth $11,129,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its holdings in Knowles Corporation by 35.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 49,709 shares of the communications equipment provider’s stock worth $942,000 after acquiring an additional 13,082 shares during the period. OppenheimerFunds Inc. raised its holdings in Knowles Corporation by 16.6% in the 1st quarter. OppenheimerFunds Inc. now owns 13,460 shares of the communications equipment provider’s stock worth $255,000 after acquiring an additional 1,919 shares during the period. FMR LLC bought a new position in Knowles Corporation in the 1st quarter worth $4,989,000. Teachers Advisors LLC raised its holdings in Knowles Corporation by 2.7% in the 1st quarter. Teachers Advisors LLC now owns 157,181 shares of the communications equipment provider’s stock worth $2,979,000 after acquiring an additional 4,119 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Knowles Corporation by 9.4% during the 1st quarter. Thrivent Financial For Lutherans now owns 16,660 shares of the communications equipment provider’s stock worth $316,000 after purchasing an additional 1,430 shares during the period.
KN has been the topic of several research reports. BidaskClub downgraded shares of Knowles Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Zacks Investment Research downgraded shares of Knowles Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Robert W. Baird restated a “buy” rating and set a $20.00 price objective on shares of Knowles Corporation in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Knowles Corporation currently has an average rating of “Hold” and an average price target of $18.75.
Knowles Corporation (KN) traded down $0.12 during trading hours on Wednesday, reaching $16.05. 430,400 shares of the company’s stock were exchanged, compared to its average volume of 793,475. Knowles Corporation has a 52-week low of $14.11 and a 52-week high of $19.90. The firm has a market capitalization of $1,446.70, a price-to-earnings ratio of 23.78, a PEG ratio of 2.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.43 and a current ratio of 2.39.
Knowles Corporation (NYSE:KN) last announced its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.09. Knowles Corporation had a net margin of 0.25% and a return on equity of 6.13%. The company had revenue of $221.70 million for the quarter, compared to analyst estimates of $220.62 million. During the same period in the prior year, the business earned $0.37 earnings per share. Knowles Corporation’s quarterly revenue was down 8.8% on a year-over-year basis. analysts expect that Knowles Corporation will post 0.64 earnings per share for the current fiscal year.
About Knowles Corporation
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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