Louisiana State Employees Retirement System Sells 2,500 Shares of Knowles Co. (NYSE:KN)

Louisiana State Employees Retirement System reduced its holdings in shares of Knowles Co. (NYSE:KN) by 5.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 42,700 shares of the communications equipment provider’s stock after selling 2,500 shares during the period. Louisiana State Employees Retirement System’s holdings in Knowles were worth $770,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Knowles by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,993,942 shares of the communications equipment provider’s stock valued at $193,102,000 after purchasing an additional 114,934 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Knowles by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,678,995 shares of the communications equipment provider’s stock valued at $115,277,000 after purchasing an additional 375,822 shares during the last quarter. Ariel Investments LLC grew its stake in shares of Knowles by 3.7% during the first quarter. Ariel Investments LLC now owns 5,187,144 shares of the communications equipment provider’s stock worth $83,513,000 after acquiring an additional 183,991 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Knowles by 4.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 829,281 shares of the communications equipment provider’s stock worth $14,952,000 after buying an additional 37,244 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Knowles by 569.5% in the second quarter. Victory Capital Management Inc. now owns 665,947 shares of the communications equipment provider’s stock valued at $11,494,000 after purchasing an additional 566,476 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Knowles

In other Knowles news, CFO John S. Anderson sold 10,444 shares of the business’s stock in a transaction 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 directly owns 211,200 shares of the company’s stock, valued at approximately $3,907,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO John S. Anderson sold 10,444 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $18.50, for a total transaction of $193,214.00. Following the transaction, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cheryl L. Shavers sold 12,579 shares of the firm’s stock in a transaction dated 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 owns 48,933 shares of the company’s stock, valued at $846,051.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,748 shares of company stock worth $530,948 in the last quarter. Company insiders own 2.65% of the company’s stock.

Knowles Price Performance

Shares of NYSE KN opened at $17.49 on Tuesday. The firm has a market capitalization of $1.54 billion, a PE ratio of -7.47 and a beta of 1.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 2.35. Knowles Co. has a fifty-two week low of $14.97 and a fifty-two week high of $19.73. The stock’s 50-day simple moving average is $17.55 and its 200-day simple moving average is $17.46.

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

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).