Bank of New York Mellon Corp Sells 42,149 Shares of Knowles Co. (NYSE:KN)

Bank of New York Mellon Corp reduced its position in Knowles Co. (NYSE:KN - Free Report) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 689,370 shares of the communications equipment provider's stock after selling 42,149 shares during the period. Bank of New York Mellon Corp owned 0.78% of Knowles worth $13,739,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KN. Versor Investments LP acquired a new stake in shares of Knowles in the 3rd quarter valued at $582,000. Victory Capital Management Inc. increased its stake in shares of Knowles by 64.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,092,161 shares of the communications equipment provider's stock valued at $19,692,000 after buying an additional 426,214 shares during the period. Royce & Associates LP increased its stake in shares of Knowles by 4.4% in the 3rd quarter. Royce & Associates LP now owns 870,123 shares of the communications equipment provider's stock valued at $15,688,000 after buying an additional 36,700 shares during the period. Natixis Advisors LLC increased its stake in shares of Knowles by 7.7% in the 3rd quarter. Natixis Advisors LLC now owns 33,707 shares of the communications equipment provider's stock valued at $608,000 after buying an additional 2,400 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Knowles in the 3rd quarter valued at $52,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Knowles Trading Up 1.2 %

Shares of NYSE:KN traded up $0.20 during midday trading on Friday, hitting $16.01. The company had a trading volume of 648,390 shares, compared to its average volume of 602,394. Knowles Co. has a 12 month low of $15.00 and a 12 month high of $20.86. The company has a current ratio of 1.83, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -6.04 and a beta of 1.42. The firm has a fifty day simple moving average of $18.34 and a 200 day simple moving average of $18.38.

Remove Ads

Knowles (NYSE:KN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $142.50 million during the quarter. Knowles had a positive return on equity of 5.52% and a negative net margin of 34.66%.

Analyst Ratings Changes

KN has been the subject of several research reports. Craig Hallum cut Knowles from a "buy" rating to a "hold" rating and set a $17.00 target price for the company. in a research note on Friday, February 14th. StockNews.com upgraded Knowles from a "hold" rating to a "buy" rating in a research report on Monday, February 17th.

Knowles Company Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).