Handelsbanken Fonder AB Grows Stock Holdings in Knowles Co. (NYSE:KN)

Handelsbanken Fonder AB lifted its position in Knowles Co. (NYSE:KN) by 27.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,990 shares of the communications equipment provider’s stock after purchasing an additional 4,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Knowles were worth $396,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in Knowles in the second quarter worth $30,000. Quarry LP purchased a new stake in shares of Knowles in the 2nd quarter worth about $39,000. Innealta Capital LLC purchased a new position in shares of Knowles during the second quarter valued at approximately $46,000. CWM LLC raised its position in shares of Knowles by 38.0% in the 2nd quarter. CWM LLC now owns 3,036 shares of the communications equipment provider’s stock worth $52,000 after purchasing an additional 836 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Knowles in the 2nd quarter worth approximately $60,000. 96.35% of the stock is currently owned by institutional investors.

Insider Activity at Knowles

In other Knowles news, CFO John S. Anderson sold 10,444 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 211,200 shares in the company, valued at approximately $3,907,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Keith Barnes sold 6,725 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $17.88, for a total transaction of $120,243.00. Following the completion of the sale, the director now owns 86,192 shares in the company, valued at approximately $1,541,112.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John S. Anderson sold 10,444 shares of Knowles stock in a transaction that occurred 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 sale, the chief financial officer now owns 211,200 shares in the company, valued at approximately $3,907,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,748 shares of company stock worth $530,948. 2.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KN has been the topic of a number of recent analyst reports. Susquehanna raised their price target on shares of Knowles from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Knowles from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

Knowles Price Performance

NYSE KN opened at $17.87 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.36 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.60 billion, a P/E ratio of 20.31 and a beta of 1.42. The company has a 50-day moving average price of $17.52 and a 200-day moving average price of $17.27. Knowles Co. has a 52 week low of $12.78 and a 52 week high of $19.73.

Knowles (NYSE:KN) last issued its quarterly earnings data 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). Knowles had a negative net margin of 24.36% and a positive return on equity of 5.39%. The business had revenue of $204.70 million for the quarter.

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).