Ballast Asset Management LP Sells 5,089 Shares of Knowles Co. (NYSE:KN)

Ballast Asset Management LP reduced its stake in Knowles Co. (NYSE:KN) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 166,916 shares of the communications equipment provider’s stock after selling 5,089 shares during the quarter. Knowles makes up 1.7% of Ballast Asset Management LP’s portfolio, making the stock its 25th biggest position. Ballast Asset Management LP’s holdings in Knowles were worth $3,327,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in Knowles by 46.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the communications equipment provider’s stock worth $42,000 after buying an additional 669 shares during the period. Blue Trust Inc. increased its holdings in shares of Knowles by 72.4% during the fourth quarter. Blue Trust Inc. now owns 3,451 shares of the communications equipment provider’s stock valued at $69,000 after acquiring an additional 1,449 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Knowles by 2.2% during the third quarter. National Bank of Canada FI now owns 66,201 shares of the communications equipment provider’s stock valued at $1,194,000 after acquiring an additional 1,452 shares in the last quarter. Virtus Investment Advisers Inc. raised its position in shares of Knowles by 11.0% during the third quarter. Virtus Investment Advisers Inc. now owns 18,100 shares of the communications equipment provider’s stock worth $326,000 after purchasing an additional 1,800 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Knowles by 66.6% in the 4th quarter. KBC Group NV now owns 4,869 shares of the communications equipment provider’s stock worth $97,000 after purchasing an additional 1,947 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Stock Down 0.9 %

KN stock opened at $15.22 on Tuesday. The stock’s 50 day moving average is $17.46 and its 200-day moving average is $18.27. Knowles Co. has a twelve month low of $14.95 and a twelve month high of $20.86. The firm has a market capitalization of $1.33 billion, a PE ratio of -5.74 and a beta of 1.42. The company has a quick ratio of 1.23, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Knowles (NYSE:KN) last posted its quarterly earnings data on Thursday, February 13th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $142.50 million for the quarter. Knowles had a positive return on equity of 5.52% and a negative net margin of 34.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KN. Craig Hallum lowered shares of Knowles from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Friday, February 14th. StockNews.com raised shares of Knowles from a “hold” rating to a “buy” rating in a research report on Monday, February 17th.

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).