Quarry LP Purchases Shares of 2,242 Knowles Co. (NYSE:KN)

Quarry LP acquired a new stake in shares of Knowles Co. (NYSE:KN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,242 shares of the communications equipment provider’s stock, valued at approximately $39,000.

Other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Knowles during the second quarter valued at about $30,000. Parallel Advisors LLC grew its position in shares of Knowles by 217.0% during the fourth quarter. Parallel Advisors LLC now owns 2,311 shares of the communications equipment provider’s stock valued at $41,000 after purchasing an additional 1,582 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Knowles during the second quarter valued at about $46,000. CWM LLC grew its position in shares of Knowles by 38.0% during the second quarter. CWM LLC now owns 3,036 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 836 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Knowles in the second quarter worth about $60,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Knowles Trading Up 2.5 %

KN opened at $17.69 on Friday. The firm has a market cap of $1.59 billion, a P/E ratio of 20.10 and a beta of 1.42. Knowles Co. has a 12 month low of $12.78 and a 12 month high of $19.73. The company has a current ratio of 2.36, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $17.55 and a 200 day moving average of $17.18.

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 the consensus estimate of $0.18 by ($0.16). Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%. The business had revenue of $204.70 million for the quarter.

Insider Buying and Selling at Knowles

In other Knowles 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 transaction, the director now owns 48,933 shares in the company, valued at $846,051.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a 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 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 transaction, the director now owns 48,933 shares in the company, valued at $846,051.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John S. Anderson sold 10,444 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $18.50, for a total value of $193,214.00. Following the transaction, the chief financial officer now owns 211,200 shares of the company’s stock, valued at $3,907,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,748 shares of company stock worth $530,948 over the last 90 days. Company insiders own 2.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Susquehanna lifted their price target on Knowles from $15.00 to $20.00 and gave the stock a “neutral” rating in a research 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).