Connor Clark & Lunn Investment Management Ltd. Sells 59,931 Shares of Knowles Co. (NYSE:KN)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Knowles Co. (NYSE:KN - Free Report) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,179 shares of the communications equipment provider's stock after selling 59,931 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of Knowles worth $4,330,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in KN. Vanguard Group Inc. boosted its holdings in Knowles by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,993,942 shares of the communications equipment provider's stock valued at $193,102,000 after purchasing an additional 114,934 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Knowles by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,678,995 shares of the communications equipment provider's stock valued at $115,277,000 after buying an additional 375,822 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Knowles by 64.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,092,161 shares of the communications equipment provider's stock worth $19,692,000 after acquiring an additional 426,214 shares during the period. Royce & Associates LP lifted its holdings in shares of Knowles by 4.4% during the 3rd quarter. Royce & Associates LP now owns 870,123 shares of the communications equipment provider's stock worth $15,688,000 after acquiring an additional 36,700 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Knowles by 4.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 829,281 shares of the communications equipment provider's stock worth $14,952,000 after acquiring an additional 37,244 shares in the last quarter. Institutional investors own 96.35% of the company's stock.

Insider Activity

In related news, VP Air A. Jr. Bastarrica sold 3,762 shares of Knowles stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $19.46, for a total transaction of $73,208.52. Following the completion of the transaction, the vice president now owns 61,681 shares of the company's stock, valued at $1,200,312.26. This trade represents a 5.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith Barnes sold 6,725 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $17.88, for a total value of $120,243.00. Following the sale, the director now owns 86,192 shares of the company's stock, valued at approximately $1,541,112.96. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,845 shares of company stock valued at $3,774,234. Company insiders own 2.65% of the company's stock.

Knowles Price Performance

KN stock traded up $0.35 during trading on Friday, reaching $18.93. 433,813 shares of the company were exchanged, compared to its average volume of 501,422. Knowles Co. has a twelve month low of $14.97 and a twelve month high of $19.73. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.35 and a quick ratio of 1.67. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -8.09 and a beta of 1.42. The company has a 50-day moving average of $17.85 and a two-hundred day moving average of $17.69.

Knowles (NYSE:KN - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Knowles had a positive return on equity of 5.16% and a negative net margin of 27.53%. The company had revenue of $142.50 million for the quarter, compared to analysts' expectations of $140.97 million. During the same period in the previous year, the business posted $0.25 earnings per share. The business's quarterly revenue was up 31.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KN shares. Craig Hallum upgraded Knowles to a "strong-buy" rating in a research note on Wednesday, October 16th. Susquehanna lowered their price target on Knowles from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Finally, StockNews.com lowered Knowles from a "buy" rating to a "hold" rating in a research note on Saturday, October 26th.

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).