Allspring Global Investments Holdings LLC Has $21.64 Million Stock Position in Knowles Corporation $KN

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Knowles Corporation by 6.1%, bringing its total shares to 1,220,236, valued at approximately $21.64 million.
• Institutional investors own a significant 96.35% of Knowles' stock, indicating strong institutional interest in the company.
• Recent analyst activity shows a shift in sentiment, with Wall Street Zen upgrading Knowles from a "buy" to a "strong-buy" rating.

Allspring Global Investments Holdings LLC boosted its holdings in Knowles Corporation (NYSE:KN - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,220,236 shares of the communications equipment provider's stock after purchasing an additional 70,078 shares during the period. Allspring Global Investments Holdings LLC owned about 1.40% of Knowles worth $21,635,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KN. SG Americas Securities LLC lifted its position in shares of Knowles by 50.0% during the 1st quarter. SG Americas Securities LLC now owns 23,763 shares of the communications equipment provider's stock valued at $361,000 after buying an additional 7,925 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Knowles by 46.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,881 shares of the communications equipment provider's stock valued at $226,000 after buying an additional 4,699 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Knowles by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 436,486 shares of the communications equipment provider's stock valued at $6,635,000 after buying an additional 9,418 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Knowles by 25.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 40,620 shares of the communications equipment provider's stock valued at $617,000 after buying an additional 8,175 shares during the last quarter. Finally, Foundry Partners LLC lifted its position in shares of Knowles by 1.4% during the 1st quarter. Foundry Partners LLC now owns 424,017 shares of the communications equipment provider's stock valued at $6,445,000 after buying an additional 5,735 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company's stock.

Knowles Price Performance

Shares of NYSE KN opened at $23.58 on Friday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 81.31 and a beta of 1.53. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.16. The stock's 50-day simple moving average is $22.09 and its two-hundred day simple moving average is $18.68. Knowles Corporation has a twelve month low of $12.19 and a twelve month high of $24.53.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Knowles in a research report on Wednesday, October 8th. Wall Street Zen upgraded Knowles from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Finally, Craig Hallum boosted their price objective on Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $21.00.

Insider Transactions at Knowles

In other Knowles news, SVP Robert J. Perna sold 56,130 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $20.47, for a total value of $1,148,981.10. Following the transaction, the senior vice president directly owned 66,552 shares in the company, valued at $1,362,319.44. This represents a 45.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $20.94, for a total value of $209,400.00. Following the completion of the transaction, the vice president owned 62,537 shares in the company, valued at $1,309,524.78. This represents a 13.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.54% 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).

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