Victory Capital Management Inc. Purchases 426,214 Shares of Knowles Co. (NYSE:KN)

Victory Capital Management Inc. raised its position in shares of Knowles Co. (NYSE:KN) by 64.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,092,161 shares of the communications equipment provider’s stock after acquiring an additional 426,214 shares during the period. Victory Capital Management Inc.’s holdings in Knowles were worth $19,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KN. Versor Investments LP bought a new stake in Knowles during the 3rd quarter valued at approximately $582,000. Olympiad Research LP acquired a new stake in Knowles in the 3rd quarter valued at approximately $494,000. Asset Management One Co. Ltd. grew its holdings in Knowles by 10.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 9,276 shares of the communications equipment provider’s stock valued at $167,000 after buying an additional 845 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Knowles by 4.7% in the 3rd 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 during the last quarter. Finally, Raymond James & Associates grew its holdings in Knowles by 3.7% in the 3rd 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 during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Knowles Price Performance

Shares of KN stock opened at $17.92 on Tuesday. The stock’s fifty day simple moving average is $17.70 and its 200 day simple moving average is $17.64. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.35 and a quick ratio of 1.67. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -7.75 and a beta of 1.42. Knowles Co. has a one year low of $14.97 and a one year high of $19.73.

Knowles (NYSE:KN) last announced its quarterly earnings results on Thursday, October 24th. The communications equipment provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. The business 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%. Knowles’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 EPS.

Wall Street Analyst Weigh In

KN has been the topic of a number of research analyst reports. StockNews.com lowered Knowles from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. Craig Hallum raised Knowles to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Susquehanna reduced their price objective on Knowles from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

Insider Activity at Knowles

In other Knowles news, Director Cheryl L. Shavers sold 12,579 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $17.29, for a total value of $217,490.91. Following the transaction, the director now owns 48,933 shares of the company’s stock, valued at approximately $846,051.57. The trade was a 20.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Air A. Jr. Bastarrica sold 3,762 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $19.46, for a total value of $73,208.52. Following the completion of the transaction, the vice president now directly owns 61,681 shares in the company, valued at approximately $1,200,312.26. This represents a 5.75 % decrease in their position. 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 90 days. 2.65% of the stock is owned by corporate insiders.

Knowles 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).