Knowles Corporation (NYSE:KN) Shares Acquired by Madison Asset Management LLC

Madison Asset Management LLC raised its stake in Knowles Corporation (NYSE:KN - Free Report) by 47.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,094 shares of the communications equipment provider's stock after buying an additional 59,253 shares during the period. Madison Asset Management LLC owned approximately 0.21% of Knowles worth $2,798,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of KN. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Knowles during the 4th quarter worth approximately $28,798,000. Raymond James Financial Inc. purchased a new stake in Knowles in the 4th quarter worth approximately $16,297,000. Norges Bank purchased a new stake in Knowles in the 4th quarter worth approximately $7,983,000. Allspring Global Investments Holdings LLC grew its stake in Knowles by 38.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider's stock worth $17,425,000 after acquiring an additional 320,587 shares during the period. Finally, Confluence Investment Management LLC purchased a new stake in Knowles in the 1st quarter worth approximately $2,583,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Knowles Trading Up 9.4%

Shares of KN traded up $1.76 during mid-day trading on Friday, reaching $20.42. The company had a trading volume of 2,017,924 shares, compared to its average volume of 566,978. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 70.41 and a beta of 1.41. The firm has a fifty day simple moving average of $17.46 and a 200-day simple moving average of $17.05. Knowles Corporation has a fifty-two week low of $12.19 and a fifty-two week high of $20.85. The company has a current ratio of 2.02, a quick ratio of 1.30 and a debt-to-equity ratio of 0.16.

Knowles (NYSE:KN - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The communications equipment provider reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $132.20 million for the quarter, compared to analyst estimates of $128.95 million. Knowles had a net margin of 4.40% and a return on equity of 8.17%. Knowles's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.18 EPS.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Craig Hallum lifted their target price on shares of Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday. Robert W. Baird lifted their target price on shares of Knowles from $18.00 to $22.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Wall Street Zen raised shares of Knowles from a "hold" rating to a "buy" rating in a research note on Monday, July 21st.

Insider Buying and Selling at Knowles

In related news, SVP Raymond D. Cabrera sold 5,545 shares of Knowles stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $17.25, for a total transaction of $95,651.25. Following the transaction, the senior vice president owned 111,286 shares in the company, valued at approximately $1,919,683.50. The trade was a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.54% of the stock is currently owned by company insiders.

Knowles Company Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).