Point72 Asia Singapore Pte. Ltd. Takes Position in Knowles Co. (NYSE:KN)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Knowles Co. (NYSE:KN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,520 shares of the communications equipment provider’s stock, valued at approximately $78,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB raised its stake in shares of Knowles by 43.5% during the first quarter. Nordea Investment Management AB now owns 486,393 shares of the communications equipment provider’s stock valued at $7,773,000 after acquiring an additional 147,372 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Knowles during the 1st quarter worth about $1,435,000. Allspring Global Investments Holdings LLC grew its position in shares of Knowles by 9.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 746,389 shares of the communications equipment provider’s stock valued at $12,017,000 after buying an additional 62,332 shares during the last quarter. Norges Bank acquired a new stake in shares of Knowles in the fourth quarter valued at about $10,562,000. Finally, Eagle Asset Management Inc. bought a new position in shares of Knowles during the fourth quarter worth about $3,832,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Price Performance

KN stock opened at $18.04 on Monday. The company has a quick ratio of 1.30, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 20.50 and a beta of 1.42. The company’s fifty day simple moving average is $17.64 and its 200 day simple moving average is $17.10. Knowles Co. has a 12-month low of $12.78 and a 12-month high of $19.73.

Knowles (NYSE:KN) last announced its earnings results on Wednesday, July 31st. The communications equipment provider reported $0.02 EPS 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 negative net margin of 24.36% and a positive return on equity of 5.39%.

Insider Transactions at Knowles

In related news, CFO John S. Anderson sold 10,444 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $18.50, for a total transaction of $193,214.00. Following the transaction, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Cheryl L. Shavers sold 12,579 shares of the business’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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John S. Anderson sold 10,444 shares of the company’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 $3,907,200. The disclosure for this sale can be found here. Insiders own 2.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Susquehanna upped their target price 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).