Allspring Global Investments Holdings LLC Purchases 320,587 Shares of Knowles Corporation (NYSE:KN)

Allspring Global Investments Holdings LLC boosted its position in Knowles Corporation (NYSE:KN - Free Report) by 38.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,150,158 shares of the communications equipment provider's stock after buying an additional 320,587 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.31% of Knowles worth $17,425,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Knowles by 725.6% in the 1st quarter. Versant Capital Management Inc now owns 1,643 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 1,444 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Knowles by 46.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the communications equipment provider's stock valued at $42,000 after buying an additional 669 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Knowles by 835.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider's stock valued at $55,000 after buying an additional 2,448 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Knowles in the 4th quarter valued at $203,000. Finally, Bank of Montreal Can bought a new stake in shares of Knowles during the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Craig Hallum raised shares of Knowles from a "hold" rating to a "buy" rating and set a $17.00 target price on the stock in a report on Monday, April 7th. Robert W. Baird boosted their price target on Knowles from $18.00 to $22.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Finally, Wall Street Zen raised shares of Knowles from a "hold" rating to a "buy" rating in a research report on Friday, June 27th.

Insider Buying and Selling

In other news, SVP Raymond D. Cabrera sold 5,545 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $17.25, for a total value of $95,651.25. Following the transaction, the senior vice president directly owned 111,286 shares in the company, valued at $1,919,683.50. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.54% of the stock is currently owned by corporate insiders.

Knowles Stock Performance

Shares of NYSE:KN traded up $0.13 during mid-day trading on Friday, reaching $18.23. 260,052 shares of the company traded hands, compared to its average volume of 676,788. The company's 50 day moving average price is $16.94 and its 200-day moving average price is $17.24. The firm has a market cap of $1.59 billion, a PE ratio of -6.75 and a beta of 1.41. Knowles Corporation has a 52 week low of $12.19 and a 52 week high of $20.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.02 and a quick ratio of 1.30.

Knowles (NYSE:KN - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.18. Knowles had a negative net margin of 38.96% and a positive return on equity of 6.35%. The firm had revenue of $132.20 million during the quarter, compared to analysts' expectations of $128.95 million. During the same period in the prior year, the company posted $0.18 earnings per share. The company's revenue for the quarter was down .8% compared to the same quarter last year.

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).