Bank of America Corp DE lowered its position in Knowles Corporation (NYSE:KN) by 5.1% during the first quarter, Holdings Channel reports. The firm owned 462,288 shares of the communications equipment provider’s stock after selling 24,807 shares during the period. Bank of America Corp DE’s holdings in Knowles Corporation were worth $8,760,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in KN. Acrospire Investment Management LLC increased its stake in Knowles Corporation by 94.8% in the first quarter. Acrospire Investment Management LLC now owns 5,301 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 2,580 shares during the period. Bank of Montreal Can boosted its position in shares of Knowles Corporation by 6.6% in the first quarter. Bank of Montreal Can now owns 9,048 shares of the communications equipment provider’s stock valued at $172,000 after buying an additional 562 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Knowles Corporation by 31.5% in the first quarter. Canada Pension Plan Investment Board now owns 9,600 shares of the communications equipment provider’s stock valued at $182,000 after buying an additional 2,300 shares in the last quarter. Advantus Capital Management Inc boosted its position in shares of Knowles Corporation by 3.0% in the first quarter. Advantus Capital Management Inc now owns 11,356 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 329 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. boosted its position in shares of Knowles Corporation by 6.5% in the first quarter. Bbva Compass Bancshares Inc. now owns 12,047 shares of the communications equipment provider’s stock valued at $228,000 after buying an additional 738 shares in the last quarter.
Knowles Corporation (NYSE KN) opened at 16.56 on Monday. Knowles Corporation has a 1-year low of $12.82 and a 1-year high of $19.90. The firm’s 50-day moving average price is $17.21 and its 200-day moving average price is $17.98. The firm’s market cap is $1.48 billion.
Knowles Corporation (NYSE:KN) last released its quarterly earnings results on Wednesday, April 26th. The communications equipment provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.03. Knowles Corporation had a positive return on equity of 6.69% and a negative net margin of 1.86%. The company had revenue of $193.70 million for the quarter, compared to analysts’ expectations of $190 million. During the same period in the previous year, the business posted $0.08 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Knowles Corporation will post $0.99 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This piece was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/07/24/bank-of-america-corp-de-cuts-stake-in-knowles-corporation-nysekn.html.
Several research analysts recently weighed in on the company. BidaskClub cut Knowles Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded Knowles Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Dougherty & Co began coverage on Knowles Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.33.
About Knowles Corporation
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
Want to see what other hedge funds are holding KN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knowles Corporation (NYSE:KN).
Receive News & Ratings for Knowles Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knowles Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
