Texas Permanent School Fund Corp Increases Stock Holdings in Knowles Co. (NYSE:KN)

Texas Permanent School Fund Corp boosted its position in shares of Knowles Co. (NYSE:KN) by 10.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,316 shares of the communications equipment provider’s stock after acquiring an additional 8,343 shares during the quarter. Texas Permanent School Fund Corp owned 0.10% of Knowles worth $1,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KN. Franklin Resources Inc. boosted its stake in shares of Knowles by 10.9% in the 4th quarter. Franklin Resources Inc. now owns 9,181,260 shares of the communications equipment provider’s stock valued at $164,436,000 after buying an additional 904,446 shares during the period. Norges Bank purchased a new position in shares of Knowles in the 4th quarter valued at about $10,562,000. Victory Capital Management Inc. boosted its stake in shares of Knowles by 569.5% in the 2nd quarter. Victory Capital Management Inc. now owns 665,947 shares of the communications equipment provider’s stock valued at $11,494,000 after buying an additional 566,476 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of Knowles in the 4th quarter valued at about $3,832,000. Finally, Ariel Investments LLC boosted its stake in shares of Knowles by 3.7% in the 1st quarter. Ariel Investments LLC now owns 5,187,144 shares of the communications equipment provider’s stock valued at $83,513,000 after buying an additional 183,991 shares during the period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Knowles news, CFO John S. Anderson sold 10,444 shares of Knowles stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $18.50, for a total value of $193,214.00. Following the transaction, the chief financial officer now directly owns 211,200 shares in the company, valued at approximately $3,907,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.65% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Susquehanna raised their target price on Knowles from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th.

Knowles Price Performance

Shares of NYSE KN opened at $17.91 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 2.36. Knowles Co. has a fifty-two week low of $12.78 and a fifty-two week high of $19.73. The firm has a market capitalization of $1.61 billion, a PE ratio of 20.35 and a beta of 1.42. The stock’s 50-day simple moving average is $17.79 and its 200-day simple moving average is $17.04.

Knowles (NYSE:KN) last issued its earnings results on Wednesday, July 31st. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.16). The business had revenue of $204.70 million for the quarter. Knowles had a positive return on equity of 5.39% and a negative net margin of 24.36%.

Knowles 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).