Confluence Investment Management LLC Has $2.70 Million Position in Knowles Corporation $KN

Key Points

• Confluence Investment Management LLC reduced its stake in Knowles Corporation by 9.8%, now holding 153,317 shares valued at approximately $2.70 million.
• Institutional investors dominate Knowles' ownership, holding 96.35% of the company's stock, with Barrow Hanley Mewhinney & Strauss LLC recently acquiring a significant position worth approximately $28.8 million.
• Wall Street analysts have upgraded Knowles' rating from "buy" to "strong-buy" and set an average price target of $21.00 for the stock.

Confluence Investment Management LLC lessened its stake in shares of Knowles Corporation (NYSE:KN - Free Report) by 9.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 153,317 shares of the communications equipment provider's stock after selling 16,598 shares during the period. Confluence Investment Management LLC owned 0.18% of Knowles worth $2,701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of KN. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Knowles during the fourth quarter worth $28,798,000. Royce & Associates LP raised its holdings 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 during the last quarter. Nuveen LLC bought a new position in Knowles during the first quarter valued at about $5,581,000. Allspring Global Investments Holdings LLC grew its position 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 valued at $17,425,000 after buying an additional 320,587 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new position in Knowles during the first quarter valued at about $4,697,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Knowles Price Performance

Shares of NYSE:KN opened at $22.15 on Friday. 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 firm has a market capitalization of $1.90 billion, a PE ratio of 76.40 and a beta of 1.50. Knowles Corporation has a twelve month low of $12.19 and a twelve month high of $22.31. The company has a 50-day moving average price of $20.07 and a two-hundred day moving average price of $17.52.

Insider Transactions at Knowles

In other Knowles news, VP Air A. Jr. Bastarrica sold 10,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total transaction 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 trade represents a 13.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Perna sold 56,130 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the transaction, the senior vice president owned 66,552 shares of the company's stock, valued at $1,362,319.44. This trade represents a 45.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KN has been the subject of several research reports. Wall Street Zen upgraded shares of Knowles from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Craig Hallum increased their price target on shares of Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Knowles has an average rating of "Moderate Buy" and a consensus price target of $21.00.

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).

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