Rhumbline Advisers Sells 1,273 Shares of Knowles Co. (NYSE:KN)

Rhumbline Advisers decreased its position in Knowles Co. (NYSE:KN) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,373 shares of the communications equipment provider’s stock after selling 1,273 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Knowles worth $4,856,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Knowles by 43.5% in the first quarter. Nordea Investment Management AB now owns 486,393 shares of the communications equipment provider’s stock worth $7,773,000 after purchasing an additional 147,372 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Knowles in the 1st quarter worth about $1,435,000. Trexquant Investment LP bought a new position in Knowles during the fourth quarter valued at about $920,000. Allspring Global Investments Holdings LLC increased its holdings in Knowles by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 746,389 shares of the communications equipment provider’s stock worth $12,017,000 after buying an additional 62,332 shares during the last quarter. Finally, Norges Bank bought a new stake in Knowles in the fourth quarter worth about $10,562,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Susquehanna raised their target price on Knowles from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th.

Insiders Place Their Bets

In other Knowles news, 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 completion of the sale, the chief financial officer now 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 link. Corporate insiders own 2.65% of the company’s stock.

Knowles Stock Up 2.7 %

KN opened at $17.31 on Monday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 19.67 and a beta of 1.42. Knowles Co. has a one year low of $12.78 and a one year high of $19.73. The company has a fifty day moving average price of $17.82 and a 200-day moving average price of $17.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30.

Knowles (NYSE:KN) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%.

Knowles Company 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).