Principal Financial Group Inc. Raises Holdings in Knowles Co. (NYSE:KN)

Principal Financial Group Inc. boosted its stake in Knowles Co. (NYSE:KN) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 427,068 shares of the communications equipment provider’s stock after purchasing an additional 10,240 shares during the period. Principal Financial Group Inc. owned about 0.48% of Knowles worth $8,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Knowles by 114.6% in the third quarter. Blue Trust Inc. now owns 2,002 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 1,069 shares during the period. Raymond James & Associates grew its stake in shares of Knowles by 3.7% in the third quarter. Raymond James & Associates now owns 196,056 shares of the communications equipment provider’s stock worth $3,535,000 after purchasing an additional 7,059 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Knowles by 10.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 9,276 shares of the communications equipment provider’s stock valued at $167,000 after purchasing an additional 845 shares during the period. Olympiad Research LP bought a new position in Knowles during the 3rd quarter valued at approximately $494,000. Finally, Versor Investments LP bought a new position in Knowles during the 3rd quarter valued at approximately $582,000. Institutional investors own 96.35% of the company’s stock.

Knowles Price Performance

KN stock opened at $16.57 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.23. Knowles Co. has a 1 year low of $15.00 and a 1 year high of $20.85. The firm has a 50-day moving average of $19.10 and a 200 day moving average of $18.50. The company has a market cap of $1.45 billion, a P/E ratio of -6.25 and a beta of 1.42.

Knowles (NYSE:KN) last announced its earnings results on Thursday, February 13th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $142.50 million during the quarter. Knowles had a positive return on equity of 5.52% and a negative net margin of 34.66%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KN shares. StockNews.com raised Knowles from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Craig Hallum cut shares of Knowles from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a report on Friday, February 14th.

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).