Inspire Investing LLC Increases Position in Knowles Corporation $KN

Inspire Investing LLC boosted its stake in shares of Knowles Corporation (NYSE:KN) by 12.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,560 shares of the communications equipment provider’s stock after purchasing an additional 2,445 shares during the period. Inspire Investing LLC’s holdings in Knowles were worth $343,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Ariel Investments LLC raised its stake in Knowles by 3.9% during the first quarter. Ariel Investments LLC now owns 4,657,747 shares of the communications equipment provider’s stock worth $70,798,000 after purchasing an additional 174,549 shares during the period. Wellington Management Group LLP raised its stake in shares of Knowles by 3.7% in the 1st quarter. Wellington Management Group LLP now owns 2,592,223 shares of the communications equipment provider’s stock valued at $39,402,000 after acquiring an additional 92,792 shares during the period. Royce & Associates LP raised its stake in shares of Knowles by 31.5% in the 1st quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider’s stock valued at $24,498,000 after acquiring an additional 386,155 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Knowles in the 4th quarter valued at $28,798,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Knowles by 38.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider’s stock valued at $17,425,000 after acquiring an additional 320,587 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Activity

In related news, VP Air A. Jr. Bastarrica sold 10,000 shares of Knowles stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the sale, the vice president directly owned 62,537 shares in the company, valued at $1,309,524.78. This trade represents a 13.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert J. Perna sold 56,130 shares of Knowles stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the sale, the senior vice president owned 66,552 shares in the company, valued at approximately $1,362,319.44. This represents a 45.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Knowles from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Craig Hallum raised their target price on shares of Knowles from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Knowles Price Performance

Shares of KN stock opened at $22.20 on Wednesday. The firm has a market cap of $1.91 billion, a P/E ratio of 76.55 and a beta of 1.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. Knowles Corporation has a 1-year low of $12.19 and a 1-year high of $22.65. The firm has a fifty day moving average of $20.24 and a two-hundred day moving average of $17.60.

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).