42,243 Knowles Corporation $KN Shares Purchased by Royce & Associates LP

Royce & Associates LP increased its position in Knowles Corporation (NYSE:KN) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,367,602 shares of the communications equipment provider’s stock after acquiring an additional 42,243 shares during the period. Royce & Associates LP owned approximately 1.61% of Knowles worth $50,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in Knowles by 57.8% during the 3rd quarter. Allworth Financial LP now owns 904 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 331 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Knowles by 35.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,151 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 304 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Knowles in the first quarter valued at about $51,000. Integrated Wealth Concepts LLC acquired a new position in shares of Knowles in the second quarter valued at about $55,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Knowles by 23.6% in the third quarter. Farther Finance Advisors LLC now owns 1,479 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Stock Performance

Knowles stock traded down $0.98 during midday trading on Friday, hitting $33.01. 455,155 shares of the company were exchanged, compared to its average volume of 880,288. The firm has a market capitalization of $2.80 billion, a PE ratio of 40.25 and a beta of 1.60. Knowles Corporation has a fifty-two week low of $20.57 and a fifty-two week high of $42.93. The business has a fifty day simple moving average of $35.28 and a two-hundred day simple moving average of $33.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 2.94.

Knowles (NYSE:KN) last announced its quarterly earnings results on Thursday, October 22nd. The communications equipment provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Knowles had a return on equity of 11.82% and a net margin of 10.76%. The company had revenue of $184.00 million during the quarter, compared to the consensus estimate of $172.10 million. During the same period in the previous year, the company posted $0.33 earnings per share. Knowles’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, sell-side analysts forecast that Knowles Corporation will post 1.10 earnings per share for the current year.

Insider Activity at Knowles

In other news, Director Cheryl Shavers sold 6,618 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $39.27, for a total transaction of $259,888.86. Following the sale, the director owned 35,723 shares of the company’s stock, valued at $1,402,842.21. This trade represents a 15.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Zacks Research upgraded Knowles from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Weiss Ratings lowered Knowles from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Wall Street Zen lowered Knowles from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Robert W. Baird set a $50.00 price target on shares of Knowles in a report on Friday, October 23rd. Finally, Susquehanna cut their price target on shares of Knowles from $40.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Knowles Company Profile

Knowles Corporation is a global supplier of advanced electronic components and acoustic solutions. Founded in 1946, the company began by developing microphones for hearing aids and has expanded into products for medical, industrial, defense, and other specialty markets. Knowles’ offerings include components for hearing health and specialty audio, such as balanced armature receivers and microphones, as well as precision devices including capacitors and radio-frequency components. These products are used in applications where performance, reliability, and compact size are important.