Victory Capital Management Inc. grew its holdings in shares of Knowles Co. (NYSE:KN - Free Report) by 64.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,092,161 shares of the communications equipment provider's stock after purchasing an additional 426,214 shares during the period. Victory Capital Management Inc. owned approximately 1.24% of Knowles worth $19,692,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in 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 worth $115,277,000 after buying an additional 375,822 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Knowles in the 2nd quarter valued at approximately $3,468,000. Ariel Investments LLC lifted its stake in Knowles by 3.7% in the first quarter. Ariel Investments LLC now owns 5,187,144 shares of the communications equipment provider's stock valued at $83,513,000 after acquiring an additional 183,991 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Knowles during the 2nd quarter worth $2,777,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Knowles during the 2nd quarter valued at $1,988,000. Institutional investors and hedge funds own 96.35% of the company's stock.
Knowles Price Performance
Knowles stock traded up $0.21 during mid-day trading on Tuesday, hitting $18.13. 276,048 shares of the company were exchanged, compared to its average volume of 571,545. Knowles Co. has a 1-year low of $14.97 and a 1-year high of $19.73. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $17.73 and a 200 day moving average of $17.65. The company has a market capitalization of $1.60 billion, a PE ratio of -7.68 and a beta of 1.42.
Knowles (NYSE:KN - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. The firm had revenue of $142.50 million for the quarter, compared to analyst estimates of $140.97 million. Knowles had a negative net margin of 27.53% and a positive return on equity of 5.16%. The company's revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. Susquehanna decreased their price target on Knowles from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Craig Hallum upgraded shares of Knowles to a "strong-buy" rating in a research note on Wednesday, October 16th. Finally, StockNews.com lowered Knowles from a "buy" rating to a "hold" rating in a research note on Saturday, October 26th.
Get Our Latest Stock Analysis on Knowles
Insiders Place Their Bets
In other Knowles news, CEO Jeffrey Niew sold 157,699 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $18.98, for a total transaction of $2,993,127.02. Following the completion of the sale, the chief executive officer now owns 820,698 shares in the company, valued at approximately $15,576,848.04. The trade was a 16.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Air A. Jr. Bastarrica sold 3,762 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $19.46, for a total value of $73,208.52. Following the completion of the sale, the vice president now owns 61,681 shares of the company's stock, valued at $1,200,312.26. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 212,289 shares of company stock valued at $3,967,448 in the last 90 days. 2.57% of the stock is currently owned by insiders.
About Knowles
(
Free Report)
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).
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