Pitcairn Co. Lowers Position in Knowles Corporation (KN)

Pitcairn Co. decreased its stake in shares of Knowles Corporation (NYSE:KN) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,962 shares of the communications equipment provider’s stock after selling 626 shares during the period. Pitcairn Co.’s holdings in Knowles Corporation were worth $321,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Acrospire Investment Management LLC raised 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 valued at $100,000 after buying an additional 2,580 shares in the last quarter. LS Investment Advisors LLC raised its stake in Knowles Corporation by 17.9% in the second quarter. LS Investment Advisors LLC now owns 6,953 shares of the communications equipment provider’s stock valued at $118,000 after buying an additional 1,056 shares in the last quarter. Bank of Montreal Can raised its stake in 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 raised its stake in 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. Finally, ING Groep NV purchased a new stake in Knowles Corporation during the second quarter valued at about $184,000.

Knowles Corporation (KN) opened at 14.68 on Wednesday. The stock has a 50 day moving average price of $16.03 and a 200 day moving average price of $17.75. The company’s market cap is $1.31 billion. Knowles Corporation has a 1-year low of $13.32 and a 1-year high of $19.90.

Knowles Corporation (NYSE:KN) last issued its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share (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 quarter in the previous year, the company posted $0.13 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts forecast that Knowles Corporation will post $0.95 earnings per share for the current year.

Several equities research analysts recently issued reports on KN shares. Dougherty & Co started coverage on Knowles Corporation in a research report on Thursday, June 8th. They set a “buy” rating and a $22.00 price target on the stock. Zacks Investment Research raised Knowles Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, BidaskClub lowered Knowles Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. 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 stock has an average rating of “Hold” and an average target price of $18.33.

In other news, insider Michael S. Polacek bought 3,246 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $15.40 per share, for a total transaction of $49,988.40. Following the completion of the transaction, the insider now directly owns 42,866 shares in the company, valued at approximately $660,136.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Knowles Corporation Company Profile

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).

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