Knowles Co. (NYSE:KN) Shares Sold by Ariel Investments LLC

Ariel Investments LLC lowered its position in Knowles Co. (NYSE:KN) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,092,049 shares of the communications equipment provider’s stock after selling 95,095 shares during the quarter. Ariel Investments LLC owned approximately 5.67% of Knowles worth $87,889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Knowles during the 4th quarter worth $10,562,000. Victory Capital Management Inc. lifted its holdings in Knowles by 569.5% during the 2nd quarter. Victory Capital Management Inc. now owns 665,947 shares of the communications equipment provider’s stock worth $11,494,000 after buying an additional 566,476 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Knowles by 6.0% during 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 acquiring an additional 375,822 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Knowles in the 4th quarter valued at about $3,832,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Knowles during the 2nd quarter worth about $3,468,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Price Performance

Shares of KN opened at $17.74 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30. Knowles Co. has a 1-year low of $12.78 and a 1-year high of $19.73. The stock has a market cap of $1.59 billion, a PE ratio of 20.16 and a beta of 1.42. The firm has a fifty day moving average price of $17.67 and a 200 day moving average price of $17.08.

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

Insider Activity

In other news, Director Cheryl L. Shavers sold 12,579 shares of Knowles stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $17.29, for a total value of $217,490.91. Following the transaction, the director now directly owns 48,933 shares of the company’s stock, valued at approximately $846,051.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Cheryl L. Shavers sold 12,579 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $17.29, for a total transaction of $217,490.91. Following the completion of the sale, the director now owns 48,933 shares in the company, valued at $846,051.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John S. Anderson sold 10,444 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.50, for a total value of $193,214.00. Following the completion of the transaction, the chief financial officer now owns 211,200 shares in the company, valued at approximately $3,907,200. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company’s stock.

Analyst Ratings Changes

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

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).