Knowles Co. (NYSE:KN) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Knowles Co. (NYSE:KN) by 64.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,092,161 shares of the communications equipment provider’s stock after purchasing an additional 426,214 shares during the period. Victory Capital Management Inc. owned approximately 1.24% of Knowles worth $19,692,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new stake in Knowles in the third quarter worth approximately $582,000. Olympiad Research LP acquired a new stake in Knowles in the third quarter worth approximately $494,000. Asset Management One Co. Ltd. lifted its position in Knowles by 10.0% in the third quarter. Asset Management One Co. Ltd. now owns 9,276 shares of the communications equipment provider’s stock worth $167,000 after purchasing an additional 845 shares during the period. Allspring Global Investments Holdings LLC increased 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 valued at $14,952,000 after buying an additional 37,244 shares in the last quarter. Finally, Raymond James & Associates increased its holdings 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 valued at $3,535,000 after buying an additional 7,059 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Knowles

In other news, Director Cheryl L. Shavers sold 12,579 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $17.29, for a total value of $217,490.91. Following the transaction, the director now directly owns 48,933 shares of the company’s stock, valued at approximately $846,051.57. This represents a 20.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John S. Anderson sold 10,444 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $18.50, for a total transaction of $193,214.00. Following the completion of the transaction, the chief financial officer now directly owns 211,200 shares in the company, valued at $3,907,200. This trade represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 212,289 shares of company stock valued at $3,967,448 in the last three months. 2.65% of the stock is currently owned by company insiders.

Knowles Price Performance

Shares of NYSE:KN opened at $17.92 on Tuesday. The company’s fifty day moving average is $17.70 and its two-hundred day moving average is $17.64. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.23. Knowles Co. has a 12-month low of $14.97 and a 12-month high of $19.73. The company has a market cap of $1.58 billion, a P/E ratio of -7.75 and a beta of 1.42.

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

Analysts Set New Price Targets

Several research analysts have issued reports on KN shares. StockNews.com cut Knowles from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Susquehanna dropped their price target 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 Knowles to a “strong-buy” rating in a report on Wednesday, October 16th.

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).