Norges Bank Takes Position in Knowles Co. (NYSE:KN)

Norges Bank acquired a new position in Knowles Co. (NYSE:KN) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 400,560 shares of the communications equipment provider’s stock, valued at approximately $7,983,000.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Knowles by 46.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the communications equipment provider’s stock valued at $42,000 after purchasing an additional 669 shares during the period. Blue Trust Inc. grew its position in Knowles by 72.4% during the fourth quarter. Blue Trust Inc. now owns 3,451 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 1,449 shares during the period. KBC Group NV increased its holdings in Knowles by 66.6% during the fourth quarter. KBC Group NV now owns 4,869 shares of the communications equipment provider’s stock valued at $97,000 after buying an additional 1,947 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Knowles in the fourth quarter worth approximately $194,000. Finally, FourThought Financial Partners LLC purchased a new position in shares of Knowles during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Knowles Stock Performance

Shares of NYSE KN opened at $12.88 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.23. Knowles Co. has a 1 year low of $12.19 and a 1 year high of $20.86. The firm has a fifty day moving average price of $16.59 and a 200-day moving average price of $18.08. The stock has a market cap of $1.13 billion, a PE ratio of -4.86 and a beta of 1.41.

Knowles (NYSE:KN) 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). Knowles had a positive return on equity of 5.52% and a negative net margin of 34.66%. The business had revenue of $142.50 million during the quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KN shares. StockNews.com lowered Knowles from a “buy” rating to a “hold” rating in a research note on Tuesday. Craig Hallum upgraded Knowles from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Monday.

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).