Legal & General Group Plc Sells 38,184 Shares of Knowles Corporation (KN)

Legal & General Group Plc lowered its stake in shares of Knowles Corporation (NYSE:KN) by 36.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 65,789 shares of the communications equipment provider’s stock after selling 38,184 shares during the period. Legal & General Group Plc owned 0.07% of Knowles Corporation worth $1,247,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Knowles Corporation by 23,168.8% in the first quarter. JPMorgan Chase & Co. now owns 1,399,150 shares of the communications equipment provider’s stock valued at $26,514,000 after buying an additional 1,393,137 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Knowles Corporation by 53.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,140,962 shares of the communications equipment provider’s stock valued at $35,776,000 after buying an additional 749,385 shares during the last quarter. Hodges Capital Management Inc. bought a new stake in Knowles Corporation during the first quarter valued at about $7,166,000. American Century Companies Inc. boosted its stake in Knowles Corporation by 661.4% in the first quarter. American Century Companies Inc. now owns 369,399 shares of the communications equipment provider’s stock valued at $7,000,000 after buying an additional 320,885 shares during the last quarter. Finally, Inverness Counsel LLC NY boosted its stake in Knowles Corporation by 81.1% in the first quarter. Inverness Counsel LLC NY now owns 667,337 shares of the communications equipment provider’s stock valued at $12,339,000 after buying an additional 298,803 shares during the last quarter.

Shares of Knowles Corporation (NYSE KN) traded up 0.98% during midday trading on Friday, reaching $15.43. 991,203 shares of the company traded hands. The firm’s market capitalization is $1.38 billion. Knowles Corporation has a 1-year low of $12.82 and a 1-year high of $19.90. The stock has a 50 day moving average price of $16.71 and a 200 day moving average price of $17.94.

Knowles Corporation (NYSE:KN) last posted its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Knowles Corporation had a positive return on equity of 6.98% and a negative net margin of 2.44%. The firm had revenue of $190.20 million during the quarter, compared to the consensus estimate of $190.24 million. During the same period in the prior year, the company earned $0.13 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Analysts expect that Knowles Corporation will post $0.95 earnings per share for the current fiscal year.

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KN has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Knowles Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. BidaskClub cut shares of Knowles Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Dougherty & Co initiated coverage on shares of Knowles Corporation in a research report on Thursday, June 8th. They set a “buy” rating and a $22.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target 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).