Raymond James Financial Inc. Buys Shares of 817,710 Knowles Co. (NYSE:KN)

Raymond James Financial Inc. purchased a new stake in Knowles Co. (NYSE:KN) during the fourth quarter, Holdings Channel reports. The firm purchased 817,710 shares of the communications equipment provider’s stock, valued at approximately $16,297,000.

A number of other institutional investors have also modified their holdings of KN. Victory Capital Management Inc. boosted its holdings 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 in the last quarter. Natixis Advisors LLC boosted its holdings 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Knowles in the 3rd quarter valued at about $52,000. Intech Investment Management LLC boosted its holdings in shares of Knowles by 113.2% in the 3rd quarter. Intech Investment Management LLC now owns 41,856 shares of the communications equipment provider’s stock valued at $755,000 after buying an additional 22,223 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in Knowles in the 3rd quarter worth approximately $5,243,000. 96.35% of the stock is currently owned by institutional investors.

Knowles Stock Up 1.2 %

KN stock opened at $16.21 on Tuesday. The firm has a 50 day moving average of $18.25 and a 200 day moving average of $18.36. The stock has a market capitalization of $1.42 billion, a PE ratio of -6.12 and a beta of 1.42. The company has a quick ratio of 1.23, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Knowles Co. has a 52 week low of $15.00 and a 52 week high of $20.86.

Knowles (NYSE:KN) last announced its quarterly earnings data on Thursday, February 13th. The communications equipment provider reported $0.22 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 for the quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KN. Craig Hallum cut shares of 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 shares of Knowles from a “hold” rating to a “buy” rating in a research note on Monday, February 17th.

About Knowles

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).