Edgestream Partners L.P. Makes New $523,000 Investment in Knowles Co. (NYSE:KN)

Edgestream Partners L.P. purchased a new stake in shares of Knowles Co. (NYSE:KN - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,015 shares of the communications equipment provider's stock, valued at approximately $523,000.

A number of other large investors also recently modified their holdings of the business. Quest Partners LLC bought a new position in Knowles during the second quarter valued at about $30,000. Blue Trust Inc. boosted its stake in Knowles by 114.6% during the third quarter. Blue Trust Inc. now owns 2,002 shares of the communications equipment provider's stock valued at $35,000 after buying an additional 1,069 shares in the last quarter. Quarry LP bought a new position in Knowles during the second quarter valued at about $39,000. GAMMA Investing LLC boosted its stake in Knowles by 37.6% during the third quarter. GAMMA Investing LLC now owns 2,445 shares of the communications equipment provider's stock valued at $44,000 after buying an additional 668 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Knowles during the second quarter valued at about $46,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Knowles Trading Up 0.8 %

Shares of NYSE:KN traded up $0.15 during midday trading on Friday, reaching $19.57. The company had a trading volume of 187,538 shares, compared to its average volume of 571,892. Knowles Co. has a 1-year low of $14.97 and a 1-year high of $20.26. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -8.30 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 2.35. The company has a fifty day simple moving average of $18.22 and a two-hundred day simple moving average of $17.82.

Knowles (NYSE:KN - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The communications equipment provider reported $0.26 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $142.50 million during the quarter, compared to analyst estimates of $140.97 million. During the same period last year, the company posted $0.25 EPS. The business's quarterly revenue was up 31.8% compared to the same quarter last year.

Insiders Place Their Bets

In other news, VP Air A. Jr. Bastarrica sold 3,762 shares of the firm's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $19.46, for a total transaction of $73,208.52. Following the completion of the sale, the vice president now directly owns 61,681 shares of the company's stock, valued at $1,200,312.26. This trade represents a 5.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Niew sold 157,699 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $18.98, for a total value of $2,993,127.02. Following the sale, the chief executive officer now directly owns 820,698 shares of the company's stock, valued at $15,576,848.04. This trade represents a 16.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,845 shares of company stock worth $3,774,234. 2.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KN. StockNews.com lowered Knowles from a "buy" rating to a "hold" rating in a research report on Saturday, October 26th. Susquehanna decreased their price target on Knowles from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Finally, Craig Hallum upgraded Knowles to a "strong-buy" rating in a research report on Wednesday, October 16th.

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).