Prudential Financial Inc. Sells 238,689 Shares of Knowles Co. (NYSE:KN)

Prudential Financial Inc. trimmed its holdings in Knowles Co. (NYSE:KN - Free Report) by 71.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,888 shares of the communications equipment provider's stock after selling 238,689 shares during the period. Prudential Financial Inc. owned about 0.11% of Knowles worth $1,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Knowles by 14.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,410,368 shares of the communications equipment provider's stock valued at $25,429,000 after purchasing an additional 178,745 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Knowles by 74.6% in the third quarter. BNP Paribas Financial Markets now owns 31,166 shares of the communications equipment provider's stock valued at $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 boosted its holdings in shares of Knowles by 11.5% in the third 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 buying an additional 20,663 shares during the period. Verition Fund Management LLC acquired a new position in shares of Knowles in the third quarter valued at approximately $227,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Knowles during the third quarter worth $523,000. 96.35% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently commented on KN shares. Craig Hallum raised shares of Knowles from a "hold" rating to a "buy" rating and set a $17.00 price objective on the stock in a research report on Monday. StockNews.com downgraded Knowles from a "buy" rating to a "hold" rating in a research note on Tuesday.

Knowles Stock Up 17.3 %

Shares of NYSE KN traded up $2.23 during midday trading on Wednesday, reaching $15.12. The company's stock had a trading volume of 1,705,461 shares, compared to its average volume of 658,213. The stock has a 50 day simple moving average of $16.43 and a 200-day simple moving average of $18.04. 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 capitalization of $1.33 billion, a price-to-earnings ratio of -5.71 and a beta of 1.41. Knowles Co. has a fifty-two week low of $12.19 and a fifty-two week high of $20.86.

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 the consensus estimate of $0.23 by ($0.01). Knowles had a negative net margin of 34.66% and a positive return on equity of 5.52%. The business had revenue of $142.50 million during the quarter.

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).