State Street Corp Sells 11,563 Shares of Knowles Co. (NYSE:KN)

State Street Corp trimmed its holdings in shares of Knowles Co. (NYSE:KN) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,444,177 shares of the communications equipment provider’s stock after selling 11,563 shares during the quarter. State Street Corp owned 3.91% of Knowles worth $62,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC grew its stake in Knowles by 20.0% in the third quarter. CWM LLC now owns 3,643 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 607 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Knowles by 4.8% in the 2nd quarter. Hsbc Holdings PLC now owns 14,489 shares of the communications equipment provider’s stock worth $248,000 after buying an additional 661 shares during the period. GAMMA Investing LLC grew its position in shares of Knowles by 37.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,445 shares of the communications equipment provider’s stock worth $44,000 after buying an additional 668 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Knowles by 4.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 17,985 shares of the communications equipment provider’s stock valued at $324,000 after buying an additional 748 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Knowles by 10.0% during the third quarter. Asset Management One Co. Ltd. now owns 9,276 shares of the communications equipment provider’s stock valued at $167,000 after buying an additional 845 shares during the period. 96.35% of the stock is currently owned by institutional investors.

Knowles Stock Performance

Shares of Knowles stock opened at $19.23 on Thursday. Knowles Co. has a one year low of $14.97 and a one year high of $20.49. The company has a market capitalization of $1.69 billion, a PE ratio of -8.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 2.35. The company has a 50-day simple moving average of $18.60 and a two-hundred day simple moving average of $17.97.

Knowles (NYSE:KN) last posted its earnings results on Thursday, October 24th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $142.50 million during the quarter, compared to analysts’ expectations of $140.97 million. Knowles had a negative net margin of 27.53% and a positive return on equity of 5.16%. Knowles’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share.

Insider Activity at Knowles

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 transaction of $217,490.91. Following the completion of the sale, the director now directly owns 48,933 shares in the company, valued at approximately $846,051.57. The trade was a 20.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Keith Barnes sold 6,725 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $17.88, for a total value of $120,243.00. Following the completion of the transaction, the director now directly owns 86,192 shares in the company, valued at approximately $1,541,112.96. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,845 shares of company stock valued at $3,774,234 in the last ninety days. Corporate insiders own 2.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KN. StockNews.com cut shares of Knowles from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Susquehanna dropped their price objective on shares of Knowles from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Craig Hallum raised shares of Knowles to a “strong-buy” rating in a research note on Wednesday, October 16th.

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).