Beck Mack & Oliver LLC Cuts Position in Knowles Corp. (KN)

Beck Mack & Oliver LLC lowered its stake in shares of Knowles Corp. (NYSE:KN) by 9.0% during the second quarter, Holdings Channel reports. The institutional investor owned 48,460 shares of the company’s stock after selling 4,799 shares during the period. Beck Mack & Oliver LLC’s holdings in Knowles Corp. were worth $663,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in shares of Knowles Corp. by 14.7% in the first quarter. Envestnet Asset Management Inc. now owns 242,809 shares of the company’s stock valued at $3,200,000 after buying an additional 31,182 shares in the last quarter. Southernsun Asset Management LLC boosted its position in shares of Knowles Corp. by 3.7% in the first quarter. Southernsun Asset Management LLC now owns 7,090,905 shares of the company’s stock valued at $93,458,000 after buying an additional 250,887 shares in the last quarter. Prudential PLC boosted its position in shares of Knowles Corp. by 38.0% in the first quarter. Prudential PLC now owns 1,950,579 shares of the company’s stock valued at $25,709,000 after buying an additional 537,164 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Knowles Corp. by 57.5% in the first quarter. Meeder Asset Management Inc. now owns 42,522 shares of the company’s stock valued at $561,000 after buying an additional 15,524 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Knowles Corp. by 1.5% in the first quarter. State Street Corp now owns 2,820,445 shares of the company’s stock valued at $37,175,000 after buying an additional 42,585 shares in the last quarter.

Institutional Ownership by Quarter for Knowles Corp. (NYSE:KN)

Knowles Corp. (NYSE:KN) traded up 0.395% during mid-day trading on Monday, hitting $13.965. The stock had a trading volume of 146,206 shares. The stock has a 50-day moving average price of $14.07 and a 200 day moving average price of $13.97. The firm’s market cap is $1.24 billion. Knowles Corp. has a 12-month low of $9.68 and a 12-month high of $21.75.

Knowles Corp. (NYSE:KN) last announced its earnings results on Tuesday, July 26th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm earned $190.30 million during the quarter, compared to analysts’ expectations of $189.88 million. Knowles Corp. had a positive return on equity of 4.04% and a negative net margin of 26.09%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. Equities analysts anticipate that Knowles Corp. will post $0.84 EPS for the current fiscal year.

Several brokerages recently weighed in on KN. Susquehanna began coverage on Knowles Corp. in a research report on Tuesday, September 20th. They set a “negative” rating and a $12.00 price target for the company. JPMorgan Chase & Co. began coverage on Knowles Corp. in a research report on Tuesday, September 6th. They set a “neutral” rating and a $15.00 price target for the company. Roth Capital began coverage on Knowles Corp. in a research report on Thursday, September 29th. They set a “buy” rating and a $16.00 price target for the company. Zacks Investment Research cut Knowles Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Benchmark Co. began coverage on Knowles Corp. in a research report on Wednesday, June 29th. They set a “hold” rating and a $15.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.18.

In other Knowles Corp. news, VP Thomas G. Jackson sold 3,764 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $13.42, for a total transaction of $50,512.88. Following the completion of the sale, the vice president now directly owns 32,059 shares of the company’s stock, valued at approximately $430,231.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.49% of the company’s stock.

Knowles Corp. Company Profile

Knowles Corporation is a supplier of advanced micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. It uses micro-electro-mechanical systems (MEMS) microphones and audio processing technologies to optimize audio systems and develop the user experience in smartphones, tablets and wearables.

5 Day Chart for NYSE:KN

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