Ameriprise Financial Inc. Has $17.65 Million Stock Position in Knowles Co. (NYSE:KN)

Ameriprise Financial Inc. trimmed its holdings in Knowles Co. (NYSE:KN - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 885,475 shares of the communications equipment provider's stock after selling 58,977 shares during the quarter. Ameriprise Financial Inc. owned about 1.01% of Knowles worth $17,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Knowles by 46.9% in 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 in the last quarter. Sterling Capital Management LLC grew its holdings in Knowles by 835.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider's stock worth $55,000 after acquiring an additional 2,448 shares during the period. Blue Trust Inc. raised its position in Knowles by 72.4% in the fourth quarter. Blue Trust Inc. now owns 3,451 shares of the communications equipment provider's stock worth $69,000 after acquiring an additional 1,449 shares in the last quarter. KBC Group NV lifted its holdings in Knowles by 66.6% in the 4th quarter. KBC Group NV now owns 4,869 shares of the communications equipment provider's stock valued at $97,000 after acquiring an additional 1,947 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new position in shares of Knowles during the 4th quarter valued at about $201,000. 96.35% of the stock is currently owned by institutional investors.

Insider Transactions at Knowles

In related news, SVP Raymond D. Cabrera sold 5,545 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $17.25, for a total transaction of $95,651.25. Following the completion of the sale, the senior vice president now directly owns 111,286 shares in the company, valued at approximately $1,919,683.50. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.54% of the stock is currently owned by insiders.

Knowles Trading Down 0.7%

KN stock traded down $0.12 during mid-day trading on Tuesday, reaching $16.81. 554,305 shares of the stock traded hands, compared to its average volume of 685,780. Knowles Co. has a 52-week low of $12.19 and a 52-week high of $20.86. The stock's fifty day moving average is $15.49 and its 200-day moving average is $17.68. The company has a market cap of $1.46 billion, a P/E ratio of -6.34 and a beta of 1.40. The company has a current ratio of 1.83, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18.

Knowles (NYSE:KN - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The communications equipment provider reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Knowles had a negative net margin of 34.66% and a positive return on equity of 5.52%. The business had revenue of $132.20 million during the quarter, compared to the consensus estimate of $128.95 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm's quarterly revenue was down .8% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several analysts recently commented on KN shares. Craig Hallum raised shares of Knowles from a "hold" rating to a "buy" rating and set a $17.00 target price for the company in a research note on Monday, April 7th. Robert W. Baird increased their price objective on Knowles from $18.00 to $22.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, StockNews.com lowered Knowles from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th.

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).