Confluence Investment Management LLC Takes $2.58 Million Position in Knowles Co. (NYSE:KN)

Confluence Investment Management LLC purchased a new stake in shares of Knowles Co. (NYSE:KN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 169,915 shares of the communications equipment provider's stock, valued at approximately $2,583,000. Confluence Investment Management LLC owned approximately 0.19% of Knowles at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Knowles by 4.5% during the 4th quarter. Wellington Management Group LLP now owns 2,499,431 shares of the communications equipment provider's stock valued at $49,814,000 after purchasing an additional 106,763 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Knowles in the fourth quarter worth $28,798,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Knowles by 11.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 222,730 shares of the communications equipment provider's stock worth $4,439,000 after acquiring an additional 22,315 shares during the last quarter. Squarepoint Ops LLC bought a new position in Knowles during the fourth quarter valued at $251,000. Finally, Teza Capital Management LLC purchased a new stake in shares of Knowles in the fourth quarter valued at $227,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Knowles Trading Up 1.7%

KN traded up $0.28 during midday trading on Tuesday, hitting $16.52. The company's stock had a trading volume of 67,001 shares, compared to its average volume of 682,557. The firm has a market cap of $1.44 billion, a P/E ratio of -6.23 and a beta of 1.40. Knowles Co. has a 52-week low of $12.19 and a 52-week high of $20.86. The company has a current ratio of 1.83, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $15.55 and a two-hundred day moving average price of $17.53.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Knowles from $18.00 to $22.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Wall Street Zen cut shares of Knowles from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Craig Hallum raised shares of Knowles from a "hold" rating to a "buy" rating and set a $17.00 price target for the company in a report on Monday, April 7th.

Insider Activity at Knowles

In related news, SVP Raymond D. Cabrera sold 5,545 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was 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 of the company's stock, valued at $1,919,683.50. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.54% of the stock is owned by 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).