Knowles Sees Unusually High Options Volume (NYSE:KN)

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Knowles Corp (NYSE:KN) was the target of unusually large options trading on Monday. Investors bought 1,197 put options on the company. This is an increase of 1,496% compared to the typical volume of 75 put options.

NYSE:KN opened at $17.40 on Tuesday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 1.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.71. The company has a 50 day moving average of $17.25. Knowles has a 12-month low of $12.20 and a 12-month high of $19.43.

Knowles (NYSE:KN) last released its earnings results on Wednesday, April 24th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.05). The company had revenue of $179.80 million during the quarter, compared to analyst estimates of $175.00 million. Knowles had a net margin of 7.88% and a return on equity of 6.05%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 EPS. On average, analysts expect that Knowles will post 0.9 earnings per share for the current fiscal year.

In related news, CFO John S. Anderson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $18.11, for a total transaction of $135,825.00. Following the completion of the sale, the chief financial officer now owns 84,312 shares in the company, valued at $1,526,890.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan acquired a new position in Knowles during the fourth quarter worth $427,000. BlackRock Inc. grew its holdings in Knowles by 1.3% during the fourth quarter. BlackRock Inc. now owns 12,831,784 shares of the communications equipment provider’s stock worth $170,793,000 after acquiring an additional 164,736 shares during the period. United Services Automobile Association grew its holdings in Knowles by 42.4% during the fourth quarter. United Services Automobile Association now owns 24,520 shares of the communications equipment provider’s stock worth $326,000 after acquiring an additional 7,297 shares during the period. California Public Employees Retirement System grew its holdings in Knowles by 7.1% in the fourth quarter. California Public Employees Retirement System now owns 262,115 shares of the communications equipment provider’s stock valued at $3,489,000 after purchasing an additional 17,482 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Knowles by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,224,664 shares of the communications equipment provider’s stock valued at $16,300,000 after purchasing an additional 44,259 shares during the last quarter.

A number of equities research analysts have weighed in on KN shares. ValuEngine cut WideOpenWest from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Craig Hallum reiterated a “buy” rating and issued a $125.00 price objective (up previously from $103.00) on shares of Lithia Motors in a research note on Thursday, April 25th. Zacks Investment Research cut Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. set a €117.00 ($136.05) price objective on Siemens and gave the company a “buy” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.93.

Knowles Company Profile

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions for the mobile consumer electronics, communications, medical, defense, aerospace, and industrial markets worldwide. It operates in two segments, Audio and Precision Devices (PD). The Audio segment designs and manufactures audio products, including microphones and balanced armature speakers, audio processors, and software and algorithms used in applications that serve the mobile, ear, and Internet of Things markets.

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