Norges Bank Invests $7.98 Million in Knowles Co. (NYSE:KN)

Norges Bank bought a new stake in shares of Knowles Co. (NYSE:KN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 400,560 shares of the communications equipment provider's stock, valued at approximately $7,983,000. Norges Bank owned approximately 0.45% of Knowles as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Knowles by 74.6% in the third quarter. BNP Paribas Financial Markets now owns 31,166 shares of the communications equipment provider's stock worth $562,000 after buying an additional 13,320 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Knowles by 11.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,415 shares of the communications equipment provider's stock valued at $3,613,000 after purchasing an additional 20,663 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Knowles during the 3rd quarter valued at $227,000. Wellington Management Group LLP boosted its stake in shares of Knowles by 33.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,392,668 shares of the communications equipment provider's stock worth $43,140,000 after purchasing an additional 594,484 shares during the period. Finally, National Bank of Canada FI lifted its stake in Knowles by 2.2% in the third quarter. National Bank of Canada FI now owns 66,201 shares of the communications equipment provider's stock worth $1,194,000 after purchasing an additional 1,452 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

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Knowles Stock Performance

NYSE KN traded up $0.21 during trading hours on Monday, reaching $14.82. The stock had a trading volume of 19,647 shares, compared to its average volume of 661,993. The stock has a market cap of $1.30 billion, a P/E ratio of -5.57 and a beta of 1.41. Knowles Co. has a 52-week low of $12.19 and a 52-week high of $20.86. The stock has a fifty day moving average of $16.28 and a 200 day moving average of $18.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.23 and a current ratio of 1.83.

Knowles (NYSE:KN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The firm 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%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KN shares. StockNews.com downgraded Knowles from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Craig Hallum upgraded shares of Knowles from a "hold" rating to a "buy" rating and set a $17.00 price objective for the company in a research note on Monday, April 7th.

Knowles 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).