Thrivent Financial for Lutherans Sells 3,352,971 Shares of Knowles Co. (NYSE:KN)

Thrivent Financial for Lutherans trimmed its position in Knowles Co. (NYSE:KN) by 87.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 491,067 shares of the communications equipment provider’s stock after selling 3,352,971 shares during the period. Thrivent Financial for Lutherans owned approximately 0.55% of Knowles worth $8,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KN. Norges Bank acquired a new position in Knowles in the fourth quarter valued at about $10,562,000. Victory Capital Management Inc. grew its position 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 purchasing an additional 566,476 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 375,822 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in Knowles during the 4th quarter worth approximately $3,832,000. Finally, 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 buying an additional 183,991 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

Insider Activity at Knowles

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

Knowles Stock Performance

Shares of Knowles stock opened at $17.85 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 20.28 and a beta of 1.42. Knowles Co. has a one year low of $12.78 and a one year high of $19.73. The stock’s 50-day moving average is $17.67 and its 200-day moving average is $17.08.

Knowles (NYSE:KN) last released its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The firm 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%.

Analysts Set New Price Targets

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

Knowles Company 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).