Bank of New York Mellon Corp Acquires Shares of 519,951 Knowles Corporation $KN

Bank of New York Mellon Corp bought a new stake in Knowles Corporation (NYSE:KN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 519,951 shares of the communications equipment provider's stock, valued at approximately $21,568,000. Bank of New York Mellon Corp owned 0.61% of Knowles as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Andar Capital Management HK Ltd acquired a new position in shares of Knowles during the second quarter valued at approximately $117,000,000. Ameriprise Financial Inc. lifted its stake in shares of Knowles by 365.4% in the third quarter. Ameriprise Financial Inc. now owns 1,394,341 shares of the communications equipment provider's stock worth $32,502,000 after buying an additional 1,094,715 shares in the last quarter. Franklin Resources Inc. boosted its position in Knowles by 10.5% during the third quarter. Franklin Resources Inc. now owns 5,108,184 shares of the communications equipment provider's stock worth $119,072,000 after acquiring an additional 484,500 shares during the last quarter. Raymond James Financial Inc. grew its stake in Knowles by 52.8% during the 3rd quarter. Raymond James Financial Inc. now owns 1,360,918 shares of the communications equipment provider's stock valued at $31,723,000 after acquiring an additional 470,100 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in Knowles in the 4th quarter valued at about $6,555,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Knowles Stock Performance

NYSE KN opened at $34.22 on Monday. The stock has a fifty day simple moving average of $37.25 and a 200-day simple moving average of $33.18. The company has a current ratio of 3.20, a quick ratio of 1.75 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.92 billion, a PE ratio of 44.44 and a beta of 1.60. Knowles Corporation has a twelve month low of $20.57 and a twelve month high of $42.93.

Knowles (NYSE:KN - Get Free Report) last posted its earnings results on Thursday, July 23rd. The communications equipment provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The company had revenue of $166.80 million for the quarter, compared to analysts' expectations of $156.97 million. Knowles had a net margin of 10.63% and a return on equity of 11.45%. Knowles's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. Knowles has set its Q3 2026 guidance at 0.340-0.380 EPS. Equities analysts anticipate that Knowles Corporation will post 1.02 earnings per share for the current year.

Insider Activity

In other Knowles news, SVP Raymond D. Cabrera sold 6,178 shares of the business's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $36.28, for a total transaction of $224,137.84. Following the sale, the senior vice president directly owned 127,945 shares in the company, valued at $4,641,844.60. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl L. Shavers sold 6,618 shares of the business's stock in a transaction dated Monday, August 17th. The stock was 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 in the company, valued at $1,402,842.21. This trade represents a 15.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KN. Wall Street Zen cut Knowles from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Robert W. Baird set a $44.00 price target on Knowles in a report on Friday, July 24th. Zacks Research raised Knowles from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded Knowles from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Finally, Susquehanna upped their target price on Knowles from $33.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $40.67.

Knowles Company Profile

Knowles Corporation NYSE: KN is a leading developer and manufacturer of advanced micro-acoustic, audio processing and precision device solutions. The company's product portfolio includes microelectromechanical systems (MEMS) microphones, balanced armature receivers, acoustic filters, and custom audio processing integrated circuits. These solutions are designed to enable clear speech, enhanced voice capture and intelligent audio performance in a variety of end markets.

Founded in 1946, Knowles has evolved from its roots in vacuum tube components to become a pure-play audio technology provider following its spin-off from Dover Corporation in 2014.

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