Thrivent Financial for Lutherans Has $8.48 Million Position in Knowles Co. (NYSE:KN)

Thrivent Financial for Lutherans decreased its holdings in shares of Knowles Co. (NYSE:KN) by 87.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 491,067 shares of the communications equipment provider’s stock after selling 3,352,971 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Knowles were worth $8,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Knowles by 43.5% in the first quarter. Nordea Investment Management AB now owns 486,393 shares of the communications equipment provider’s stock valued at $7,773,000 after purchasing an additional 147,372 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Knowles during the 1st quarter worth $1,435,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 in the last quarter. Trexquant Investment LP bought a new stake in shares of Knowles in the fourth quarter valued at about $920,000. Finally, Norges Bank bought a new position in Knowles during the fourth quarter worth about $10,562,000. 96.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Susquehanna boosted their price objective on shares of Knowles from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th.

Knowles Price Performance

Knowles stock opened at $17.85 on Friday. The stock’s fifty day moving average price is $17.67 and its two-hundred day moving average price is $17.08. The firm has a market cap of $1.60 billion, a PE ratio of 20.28 and a beta of 1.42. 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 Co. has a one year low of $12.78 and a one year high of $19.73.

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

Insider Activity

In related news, Director Cheryl L. Shavers sold 12,579 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $17.29, for a total transaction of $217,490.91. Following the sale, the director now owns 48,933 shares in the company, valued at approximately $846,051.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Cheryl L. Shavers sold 12,579 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was 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 directly owns 48,933 shares in the company, valued at approximately $846,051.57. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO John S. Anderson sold 10,444 shares of Knowles stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $18.50, for a total value of $193,214.00. Following the completion of the transaction, the chief financial officer now owns 211,200 shares in the company, valued at approximately $3,907,200. The disclosure for this sale can be found here. Corporate insiders own 2.65% of the company’s stock.

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).