State of New Jersey Common Pension Fund D Sells 61,713 Shares of Knowles Co. (NYSE:KN)

State of New Jersey Common Pension Fund D cut its stake in Knowles Co. (NYSE:KN) by 36.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,880 shares of the communications equipment provider’s stock after selling 61,713 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.12% of Knowles worth $1,862,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KN. Charles Schwab Investment Management Inc. increased its position in shares of Knowles by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,183,381 shares of the communications equipment provider’s stock worth $21,194,000 after purchasing an additional 27,075 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Knowles during the 4th quarter worth about $315,000. Norges Bank acquired a new stake in shares of Knowles during the 4th quarter worth about $10,562,000. Trexquant Investment LP bought a new stake in Knowles during the 4th quarter worth about $920,000. Finally, Commerce Bank bought a new stake in Knowles during the 4th quarter worth about $181,000. 96.35% of the stock is owned by institutional investors.

Insider Activity

In related 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 sale, the chief financial officer now directly owns 211,200 shares in the company, valued at $3,907,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.65% of the stock is currently owned by insiders.

Knowles Trading Down 2.2 %

KN stock opened at $17.52 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.36 and a quick ratio of 1.30. The company has a fifty day moving average price of $17.77 and a two-hundred day moving average price of $17.06. Knowles Co. has a one year low of $12.78 and a one year high of $19.73. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 19.91 and a beta of 1.42.

Knowles (NYSE:KN) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.16). The firm had revenue of $204.70 million for the quarter. Knowles had a positive return on equity of 5.39% and a negative net margin of 24.36%.

Wall Street Analyst Weigh In

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