Knowles Co. (NYSE:KN) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Knowles Co. (NYSE:KN - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,874 shares of the communications equipment provider's stock after selling 18,443 shares during the period. Rhumbline Advisers owned about 0.29% of Knowles worth $3,904,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Knowles by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,561,358 shares of the communications equipment provider's stock valued at $230,418,000 after acquiring an additional 82,827 shares in the last quarter. Wellington Management Group LLP grew its stake in Knowles by 4.5% in the fourth quarter. Wellington Management Group LLP now owns 2,499,431 shares of the communications equipment provider's stock worth $49,814,000 after purchasing an additional 106,763 shares in the last quarter. William Blair Investment Management LLC grew its stake in Knowles by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,226,761 shares of the communications equipment provider's stock worth $44,379,000 after purchasing an additional 54,404 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Knowles in the fourth quarter worth about $28,798,000. Finally, Royce & Associates LP grew its stake in Knowles by 40.8% in the fourth quarter. Royce & Associates LP now owns 1,225,524 shares of the communications equipment provider's stock worth $24,425,000 after purchasing an additional 355,401 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors and hedge funds.

Knowles Stock Performance

KN opened at $16.77 on Friday. The business's 50 day moving average is $16.05 and its 200-day moving average is $17.44. The stock has a market cap of $1.46 billion, a PE ratio of -6.33 and a beta of 1.41. The company has a current ratio of 1.83, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. Knowles Co. has a twelve month low of $12.19 and a twelve month high of $20.86.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, SVP Raymond D. Cabrera sold 5,545 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now owns 111,286 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.54% of the stock is owned by corporate insiders.

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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