Knowles Co. (NYSE:KN) Stake Reduced by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its stake in Knowles Co. (NYSE:KN – Get Rating) by 24.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 444,000 shares of the communications equipment provider’s stock after selling 146,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.49% of Knowles worth $5,403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KN. Verition Fund Management LLC acquired a new position in Knowles during the 3rd quarter valued at about $2,003,000. Nuveen Asset Management LLC grew its holdings in Knowles by 0.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 955,503 shares of the communications equipment provider’s stock worth $11,629,000 after buying an additional 4,637 shares in the last quarter. Hsbc Holdings PLC increased its position in Knowles by 23.1% in the 3rd quarter. Hsbc Holdings PLC now owns 35,616 shares of the communications equipment provider’s stock valued at $439,000 after acquiring an additional 6,691 shares during the period. Brown Advisory Inc. raised its stake in Knowles by 4.4% during the 3rd quarter. Brown Advisory Inc. now owns 61,945 shares of the communications equipment provider’s stock valued at $754,000 after acquiring an additional 2,614 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Knowles by 5.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 63,545 shares of the communications equipment provider’s stock worth $773,000 after acquiring an additional 3,029 shares during the period. Institutional investors and hedge funds own 99.15% of the company’s stock.

Knowles Stock Down 2.6 %

Knowles stock opened at $16.27 on Friday. Knowles Co. has a 52 week low of $11.57 and a 52 week high of $22.93. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -3.46 and a beta of 1.48. The company’s 50-day moving average price is $17.76 and its two-hundred day moving average price is $15.54. The company has a current ratio of 3.66, a quick ratio of 1.95 and a debt-to-equity ratio of 0.05.

Knowles (NYSE:KN – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The communications equipment provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The company had revenue of $197.10 million for the quarter, compared to the consensus estimate of $210.00 million. Knowles had a positive return on equity of 7.04% and a negative net margin of 56.24%. On average, analysts expect that Knowles Co. will post 0.82 EPS for the current fiscal year.

About Knowles

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Knowles Corp. supplies advanced micro-acoustic, audio processing and precision device solutions. It operates through the following segments: Audio and Precision Devices. The Audio segment includes analog and digital micro-electro-mechanical systems microphones, electret condenser microphones, smart microphones, ultrasonic sensors, acoustic processors and balanced armature speakers.