Knowles Co. (NYSE:KN) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Knowles Co. (NYSE:KN) by 20.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 240,179 shares of the communications equipment provider’s stock after selling 59,931 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Knowles were worth $4,330,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KN. Vanguard Group Inc. grew its position in Knowles by 1.0% in the first quarter. Vanguard Group Inc. now owns 11,993,942 shares of the communications equipment provider’s stock valued at $193,102,000 after acquiring an additional 114,934 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Knowles by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,678,995 shares of the communications equipment provider’s stock valued at $115,277,000 after purchasing an additional 375,822 shares in the last quarter. Victory Capital Management Inc. increased its stake in Knowles by 64.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,092,161 shares of the communications equipment provider’s stock worth $19,692,000 after buying an additional 426,214 shares during the period. Royce & Associates LP lifted its holdings in Knowles by 4.4% in the 3rd quarter. Royce & Associates LP now owns 870,123 shares of the communications equipment provider’s stock worth $15,688,000 after buying an additional 36,700 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position 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. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Knowles Stock Up 1.9 %

Shares of Knowles stock opened at $18.93 on Friday. The business has a 50-day moving average price of $17.85 and a 200 day moving average price of $17.69. Knowles Co. has a fifty-two week low of $14.97 and a fifty-two week high of $19.73. The firm has a market cap of $1.67 billion, a P/E ratio of -8.09 and a beta of 1.42. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.23.

Knowles (NYSE:KN) last issued its quarterly earnings results on Thursday, October 24th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $140.97 million. During the same period in the previous year, the business earned $0.25 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis.

Analyst Upgrades and Downgrades

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

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 value of $217,490.91. Following the sale, the director now directly owns 48,933 shares of the company’s stock, valued at $846,051.57. This trade represents a 20.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Niew sold 157,699 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 820,698 shares of the company’s stock, valued at $15,576,848.04. This represents a 16.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,845 shares of company stock valued at $3,774,234. Company insiders own 2.65% of the company’s stock.

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).