Everence Capital Management Inc. Sells 5,220 Shares of Knowles Co. (NYSE:KN)

Everence Capital Management Inc. decreased its holdings in shares of Knowles Co. (NYSE:KN) by 28.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,900 shares of the communications equipment provider’s stock after selling 5,220 shares during the period. Everence Capital Management Inc.’s holdings in Knowles were worth $257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of KN. Pacer Advisors Inc. grew its position in Knowles by 54,279.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,621,626 shares of the communications equipment provider’s stock valued at $47,268,000 after acquiring an additional 2,616,805 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Knowles during the second quarter valued at $78,000. Vanguard Personalized Indexing Management LLC increased its stake in Knowles by 33.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,411 shares of the communications equipment provider’s stock worth $249,000 after buying an additional 3,600 shares during the period. AQR Capital Management LLC increased its stake in Knowles by 222.3% in the 2nd quarter. AQR Capital Management LLC now owns 82,387 shares of the communications equipment provider’s stock worth $1,422,000 after buying an additional 56,825 shares during the period. Finally, Raymond James & Associates boosted its position 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 period. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jeffrey Niew sold 157,699 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $18.98, for a total transaction of $2,993,127.02. Following the completion of the sale, the chief executive officer now owns 820,698 shares in the company, valued at approximately $15,576,848.04. This represents a 16.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert J. Perna sold 21,080 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $17.56, for a total value of $370,164.80. Following the transaction, the senior vice president now owns 66,063 shares in the company, valued at approximately $1,160,066.28. This trade represents a 24.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 182,541 shares of company stock worth $3,436,500. Corporate insiders own 2.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Craig Hallum raised shares of Knowles to a “strong-buy” rating in a research note on Wednesday, October 16th. StockNews.com lowered Knowles from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, Susquehanna lowered their target price on Knowles from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

Knowles Price Performance

Shares of KN opened at $20.22 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.67 and a current ratio of 2.35. The company has a 50 day moving average price of $19.21 and a 200-day moving average price of $18.19. Knowles Co. has a fifty-two week low of $14.97 and a fifty-two week high of $20.86. The stock has a market capitalization of $1.78 billion, a PE ratio of -8.64 and a beta of 1.43.

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 positive return on equity of 5.16% and a negative net margin of 27.53%. The business had revenue of $142.50 million for the quarter, compared to analysts’ expectations of $140.97 million. During the same quarter last year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 31.8% on a year-over-year basis.

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).