Principal Financial Group Inc. Acquires 7,520 Shares of Knowles Corporation (NYSE:KN)

Principal Financial Group Inc. raised its stake in shares of Knowles Corporation (NYSE:KN) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 358,178 shares of the communications equipment provider’s stock after buying an additional 7,520 shares during the period. Principal Financial Group Inc. owned approximately 0.40% of Knowles Corporation worth $6,787,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. OppenheimerFunds Inc. raised its position in shares of Knowles Corporation by 16.6% in the first quarter. OppenheimerFunds Inc. now owns 13,460 shares of the communications equipment provider’s stock valued at $255,000 after buying an additional 1,919 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in Knowles Corporation by 142.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 27,162 shares of the communications equipment provider’s stock valued at $514,000 after buying an additional 15,962 shares in the last quarter. Mcclain Value Management LLC increased its stake in Knowles Corporation by 10.8% in the first quarter. Mcclain Value Management LLC now owns 179,590 shares of the communications equipment provider’s stock valued at $3,403,000 after buying an additional 17,478 shares in the last quarter. American International Group Inc. increased its stake in shares of Knowles Corporation by 4.1% in the first quarter. American International Group Inc. now owns 228,474 shares of the communications equipment provider’s stock valued at $4,330,000 after buying an additional 9,082 shares during the period. Finally, Cipher Capital LP increased its stake in shares of Knowles Corporation by 88.1% in the first quarter. Cipher Capital LP now owns 84,542 shares of the communications equipment provider’s stock valued at $1,602,000 after buying an additional 39,592 shares during the period.

Knowles Corporation (NYSE KN) traded up 0.26% during trading on Tuesday, reaching $15.21. The company had a trading volume of 715,028 shares. The firm’s market capitalization is $1.36 billion. Knowles Corporation has a 52-week low of $13.32 and a 52-week high of $19.90. The company has a 50-day moving average of $16.51 and a 200-day moving average of $17.88.

Knowles Corporation (NYSE:KN) last announced its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. The firm had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $190.24 million. During the same period last year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts expect that Knowles Corporation will post $0.95 EPS for the current fiscal year.

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Several research analysts have recently issued reports on the company. BidaskClub cut Knowles Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research cut Knowles Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Dougherty & Co initiated coverage on Knowles Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $22.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Knowles Corporation has an average rating of “Hold” and a consensus target price of $18.33.

In other Knowles Corporation news, insider Michael S. Polacek acquired 3,246 shares of Knowles Corporation stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $15.40 per share, with a total value of $49,988.40. Following the completion of the purchase, the insider now owns 42,866 shares in the company, valued at $660,136.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.20% of the stock is currently owned by company insiders.

Knowles Corporation Company Profile

Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).

Institutional Ownership by Quarter for Knowles Corporation (NYSE:KN)

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