Knowles Corp (NYSE:KN) insider Michael S. Polacek bought 926 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $16.19 per share, with a total value of $14,991.94. Following the completion of the transaction, the insider now owns 68,567 shares in the company, valued at $1,110,099.73. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
KN traded down $0.13 during trading on Friday, hitting $15.87. 515,321 shares of the stock were exchanged, compared to its average volume of 1,257,897. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.33 and a beta of 0.91. Knowles Corp has a 1-year low of $10.94 and a 1-year high of $18.32. The company has a quick ratio of 1.55, a current ratio of 2.60 and a debt-to-equity ratio of 0.17.
Knowles (NYSE:KN) last released its quarterly earnings results on Wednesday, October 24th. The communications equipment provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $236.20 million for the quarter, compared to analyst estimates of $219.73 million. Knowles had a return on equity of 6.40% and a net margin of 8.99%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Equities analysts expect that Knowles Corp will post 0.7 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new position in shares of Knowles in the first quarter valued at approximately $256,000. UBS Group AG increased its holdings in shares of Knowles by 112.3% in the first quarter. UBS Group AG now owns 14,620 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 7,733 shares during the period. Millennium Management LLC increased its holdings in shares of Knowles by 507.8% in the first quarter. Millennium Management LLC now owns 208,355 shares of the communications equipment provider’s stock valued at $2,623,000 after purchasing an additional 174,073 shares during the period. Legal & General Group Plc grew its holdings in Knowles by 9.9% during the first quarter. Legal & General Group Plc now owns 91,609 shares of the communications equipment provider’s stock worth $1,153,000 after acquiring an additional 8,290 shares during the period. Finally, Xact Kapitalforvaltning AB grew its holdings in Knowles by 88.2% during the first quarter. Xact Kapitalforvaltning AB now owns 26,890 shares of the communications equipment provider’s stock worth $339,000 after acquiring an additional 12,600 shares during the period.
Several research firms have weighed in on KN. Zacks Investment Research raised Knowles from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, October 31st. Roth Capital dropped their target price on Knowles from $22.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. Robert W. Baird reaffirmed a “buy” rating and issued a $18.00 target price on shares of Knowles in a research report on Wednesday, October 17th. ValuEngine raised Knowles from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, JPMorgan Chase & Co. downgraded Knowles from a “neutral” rating to an “underweight” rating and set a $13.50 target price for the company. in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $17.14.
WARNING: “Michael S. Polacek Purchases 926 Shares of Knowles Corp (KN) Stock” was first reported by Macon Daily and is the property of of Macon Daily. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://macondaily.com/2018/11/09/michael-s-polacek-purchases-926-shares-of-knowles-corp-kn-stock.html.
Knowles Company Profile
Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.
Recommended Story: Day Trading – Risk Worth the Reward?
Receive News & Ratings for Knowles Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knowles and related companies with MarketBeat.com's FREE daily email newsletter.