Michael S. Polacek Acquires 926 Shares of Knowles Corp (KN) Stock

Knowles Corp (NYSE:KN) insider Michael S. Polacek bought 926 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $16.28 per share, for a total transaction of $15,075.28. Following the transaction, the insider now owns 84,305 shares of the company’s stock, valued at $1,372,485.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of NYSE KN traded down $0.05 during trading hours on Monday, hitting $16.31. The company’s stock had a trading volume of 1,203,200 shares, compared to its average volume of 1,083,850. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.57 and a quick ratio of 1.59. The stock has a market capitalization of $1.47 billion, a PE ratio of 20.39, a PEG ratio of 1.95 and a beta of 1.08. Knowles Corp has a 12 month low of $10.94 and a 12 month high of $18.32.

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Knowles (NYSE:KN) last posted its earnings results on Thursday, February 7th. The communications equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.08. The company had revenue of $223.80 million for the quarter, compared to analysts’ expectations of $224.42 million. Knowles had a return on equity of 6.08% and a net margin of 8.19%. Knowles’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. As a group, equities research analysts anticipate that Knowles Corp will post 0.84 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Knowles in the 4th quarter worth approximately $9,771,000. Millennium Management LLC grew its position in Knowles by 2,391.4% in the 4th quarter. Millennium Management LLC now owns 537,724 shares of the communications equipment provider’s stock worth $7,157,000 after purchasing an additional 516,141 shares during the period. Legal & General Group Plc grew its position in Knowles by 0.7% in the 4th quarter. Legal & General Group Plc now owns 214,659 shares of the communications equipment provider’s stock worth $2,864,000 after purchasing an additional 1,408 shares during the period. Thrivent Financial for Lutherans grew its position in Knowles by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 64,442 shares of the communications equipment provider’s stock worth $858,000 after purchasing an additional 1,417 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Knowles in the 4th quarter worth approximately $427,000.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Knowles from a “buy” rating to a “hold” rating in a research report on Wednesday, December 26th. JPMorgan Chase & Co. set a $13.00 price objective on Knowles and gave the stock a “sell” rating in a research report on Friday, January 4th. Robert W. Baird reiterated a “buy” rating on shares of Knowles in a research report on Friday, January 11th. Lake Street Capital restated a “buy” rating and set a $17.00 price target on shares of Knowles in a research report on Monday, January 14th. Finally, Craig Hallum restated a “buy” rating and set a $18.00 price target (down previously from $19.00) on shares of Knowles in a research report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Knowles has an average rating of “Hold” and an average target price of $16.64.

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Knowles Company Profile

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.

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