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John S. Anderson, the Senior Vice President and Chief Financial Officer of Knowles Corp (NYSE:KN), recently sold 10,443 shares of the company’s common stock. The transaction, executed on November 25, 2024, was conducted under a Rule 10b5-1 trading plan that Anderson adopted earlier this year, on May 15, 2024. The shares were sold at a price of $19.50 each, totaling approximately $203,638. Following this sale, Anderson retains direct ownership of 200,757 shares of Knowles Corp.
In other recent news, Knowles Corporation has made significant strides in its business operations. The company reported strong Q3 2024 earnings, with revenues reaching $143 million, marking a 32% year-over-year increase. This growth was largely driven by strategic acquisitions and a 4% organic growth. The company also announced its decision to transition away from the Consumer MEMS Microphone business, with a sale expected to be finalized by the end of Q4 2024.
Furthermore, Knowles Corporation is actively considering merger and acquisition opportunities that align with its strategic goals. The company has also amended its by-laws, aiming to refine corporate governance practices and streamline the process for convening stockholder meetings. The changes, which include procedural mechanics and disclosure requirements for stockholder nominations of directors, are part of the company's periodic review of its by-laws.
In terms of future expectations, Knowles Corporation projects Q4 revenues to be between $141 million and $151 million, with an EPS projection of $0.26 to $0.30. The company's Medtech & Specialty Audio segment saw a 10% revenue increase, while the Precision Device segment grew by 57%. Despite inconsistencies in bookings through distribution partners in the industrial sector, the company expects a recovery by late Q1 or Q2 2025.
InvestingPro Insights
As John S. Anderson, Knowles Corp's CFO, executes a planned stock sale, it's worth noting some key financial metrics and insights from InvestingPro that provide context to this transaction and the company's current position.
Knowles Corp has been experiencing significant growth, with revenue increasing by 55.62% over the last twelve months as of Q3 2024, reaching $801 million. This robust growth is complemented by a healthy gross profit margin of 38.48% and an operating income margin of 7.73% for the same period.
InvestingPro Tips highlight that Knowles is trading near its 52-week high, with the stock price at 97.97% of its peak. This aligns with the company's positive performance, as evidenced by a 16.28% price total return over the past year. Additionally, analysts predict that Knowles will be profitable this year, which could be contributing to investor confidence.
Despite the recent insider sale, it's important to note that management has been aggressively buying back shares, according to another InvestingPro Tip. This could signal the company's belief in its own value and future prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Knowles Corp, providing a deeper understanding of the company's financial health and market position.
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