Allspring Global Investments Holdings LLC Purchases 37,244 Shares of Knowles Co. (NYSE:KN)

Allspring Global Investments Holdings LLC boosted its position in Knowles Co. (NYSE:KN) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 829,281 shares of the communications equipment provider’s stock after acquiring an additional 37,244 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Knowles were worth $14,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in Knowles by 43.5% in the first quarter. Nordea Investment Management AB now owns 486,393 shares of the communications equipment provider’s stock worth $7,773,000 after acquiring an additional 147,372 shares during the period. Capstone Investment Advisors LLC purchased a new stake in shares of Knowles in the 1st quarter worth about $1,435,000. Jennison Associates LLC bought a new stake in shares of Knowles during the 1st quarter valued at about $1,228,000. Sei Investments Co. boosted its stake in shares of Knowles by 9.2% during the 1st quarter. Sei Investments Co. now owns 529,859 shares of the communications equipment provider’s stock valued at $8,531,000 after purchasing an additional 44,566 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Knowles during the second quarter valued at about $46,000. 96.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KN. Craig Hallum raised Knowles to a “strong-buy” rating in a research report on Wednesday, October 16th. Susquehanna decreased their price objective on Knowles from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday. Finally, StockNews.com cut shares of Knowles from a “buy” rating to a “hold” rating in a report on Saturday.

Knowles Stock Performance

Knowles stock opened at $17.67 on Friday. Knowles Co. has a twelve month low of $12.78 and a twelve month high of $19.73. 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 company has a market capitalization of $1.56 billion, a P/E ratio of -8.14 and a beta of 1.42. The stock’s 50 day moving average is $17.59 and its 200 day moving average is $17.35.

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

Insiders Place Their Bets

In other Knowles news, Director Cheryl L. Shavers sold 12,579 shares of the 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 sale, the director now directly owns 48,933 shares in the company, valued at approximately $846,051.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO John S. Anderson sold 10,444 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 211,200 shares of the company’s stock, valued at $3,907,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl L. Shavers sold 12,579 shares of the firm’s stock in a transaction that occurred 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 owns 48,933 shares in the company, valued at $846,051.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,748 shares of company stock valued at $530,948. Insiders own 2.65% of the company’s stock.

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).