Knowles Corporation $KN Shares Purchased by Ariel Investments LLC

Key Points

• Ariel Investments LLC increased its stake in Knowles Corporation by 3.9% to 4,657,747 shares, valued at approximately $70.80 million.
• Insider transactions included significant sales, with SVP Robert J. Perna selling 56,130 shares and VP Air A. Jr. Bastarrica selling 10,000 shares, resulting in notable decreases in their ownership.
• Analysts have mixed ratings on Knowles shares, with Craig Hallum raising its price target to $22.00 while Wall Street Zen downgraded it from "strong-buy" to "buy," reflecting a consensus rating of "Moderate Buy."

Ariel Investments LLC lifted its position in Knowles Corporation (NYSE:KN - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,657,747 shares of the communications equipment provider's stock after purchasing an additional 174,549 shares during the quarter. Ariel Investments LLC owned 5.36% of Knowles worth $70,798,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Knowles in the fourth quarter valued at about $28,798,000. Royce & Associates LP grew its position in shares of Knowles by 31.5% in the first quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider's stock valued at $24,498,000 after purchasing an additional 386,155 shares in the last quarter. Nuveen LLC bought a new stake in Knowles during the first quarter valued at $5,581,000. Allspring Global Investments Holdings LLC lifted its stake in Knowles by 38.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,150,158 shares of the communications equipment provider's stock worth $17,425,000 after purchasing an additional 320,587 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP bought a new stake in shares of Knowles in the 1st quarter valued at about $4,697,000. Institutional investors own 96.35% of the company's stock.

Knowles Stock Down 0.2%

NYSE KN traded down $0.04 on Monday, hitting $21.48. The stock had a trading volume of 208,484 shares, compared to its average volume of 707,173. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 74.04 and a beta of 1.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. Knowles Corporation has a 52-week low of $12.19 and a 52-week high of $21.98. The business's fifty day moving average price is $19.69 and its 200 day moving average price is $17.37.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wall Street Zen downgraded Knowles from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Craig Hallum upped their price objective on Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Knowles has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Insiders Place Their Bets

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 shares were sold at an average price of $20.47, for a total value of $1,148,981.10. Following the completion of the transaction, the senior vice president owned 66,552 shares in the company, valued at approximately $1,362,319.44. This represents a 45.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $209,400.00. Following the transaction, the vice president owned 62,537 shares of the company's stock, valued at approximately $1,309,524.78. This trade represents a 13.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.54% of the company's stock.

About Knowles

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).