Knowles Corporation (NYSE:KN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Knowles Corporation (NYSE:KN - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 670,697 shares of the communications equipment provider's stock after selling 18,673 shares during the period. Bank of New York Mellon Corp owned 0.76% of Knowles worth $10,195,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Knowles by 725.6% during the 1st quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 1,444 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Knowles by 835.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider's stock valued at $55,000 after buying an additional 2,448 shares during the period. Bank of Montreal Can purchased a new stake in shares of Knowles during the 4th quarter valued at approximately $203,000. Stifel Financial Corp purchased a new stake in shares of Knowles during the 4th quarter valued at approximately $209,000. Finally, Ethic Inc. purchased a new stake in shares of Knowles during the 4th quarter valued at approximately $210,000. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Knowles Trading Up 1.2%

NYSE KN opened at $17.96 on Tuesday. The stock has a market capitalization of $1.56 billion, a P/E ratio of -6.65 and a beta of 1.41. Knowles Corporation has a 52-week low of $12.19 and a 52-week high of $20.86. The firm has a 50-day moving average price of $17.29 and a 200 day moving average price of $17.07. The company has a quick ratio of 1.30, a current ratio of 2.02 and a debt-to-equity ratio of 0.16.

Knowles (NYSE:KN - Get Free Report) last issued its earnings results on Thursday, April 24th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. Knowles had a negative net margin of 38.96% and a positive return on equity of 6.35%. The company had revenue of $132.20 million during the quarter, compared to analysts' expectations of $128.95 million. During the same period last year, the company posted $0.18 earnings per share. The firm's quarterly revenue was down .8% compared to the same quarter last year.

Analysts Set New Price Targets

A number of analysts have issued reports on KN shares. Wall Street Zen raised Knowles from a "hold" rating to a "buy" rating in a research report on Monday. Craig Hallum raised Knowles from a "hold" rating to a "buy" rating and set a $17.00 price objective on the stock in a research report on Monday, April 7th. Finally, Robert W. Baird upped their price objective on Knowles from $18.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th.

Insider Activity at Knowles

In related news, SVP Raymond D. Cabrera sold 5,545 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president owned 111,286 shares in the company, valued at approximately $1,919,683.50. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.54% of the stock is owned by corporate 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).

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