Knowles Corporation $KN Shares Purchased by First Hawaiian Bank

Key Points

• First Hawaiian Bank increased its stake in Knowles Corporation by 118.1% during the first quarter, owning a total of 34,007 shares valued at approximately $517,000.
• Multiple large investors, including Ariel Investments and Allspring Global Investments, have also boosted their stakes in Knowles, with institutional investors now holding 96.35% of the stock.
• Knowles Corporation's stock has a current price of $22.15, with analysts rating it as a "Moderate Buy." The consensus target price for the stock is set at $21.00.

First Hawaiian Bank boosted its holdings in Knowles Corporation (NYSE:KN - Free Report) by 118.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 34,007 shares of the communications equipment provider's stock after acquiring an additional 18,415 shares during the period. First Hawaiian Bank's holdings in Knowles were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Ariel Investments LLC grew its stake in Knowles by 3.9% in the 1st quarter. Ariel Investments LLC now owns 4,657,747 shares of the communications equipment provider's stock valued at $70,798,000 after acquiring an additional 174,549 shares during the last quarter. Wellington Management Group LLP grew its stake in Knowles by 3.7% in the 1st quarter. Wellington Management Group LLP now owns 2,592,223 shares of the communications equipment provider's stock valued at $39,402,000 after acquiring an additional 92,792 shares during the last quarter. Royce & Associates LP grew its stake in Knowles by 31.5% in the 1st quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider's stock valued at $24,498,000 after acquiring an additional 386,155 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Knowles in the 4th quarter valued at about $28,798,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Knowles by 38.6% during the 1st 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. 96.35% of the stock is owned by institutional investors and hedge funds.

Knowles Trading Down 0.4%

NYSE KN opened at $22.15 on Monday. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 76.40 and a beta of 1.50. The company's 50 day moving average price is $20.07 and its 200 day moving average price is $17.53. Knowles Corporation has a one year low of $12.19 and a one year high of $22.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Craig Hallum raised their price target on shares of Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Knowles from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Knowles presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

Insiders Place Their Bets

In related news, VP Air A. Jr. Bastarrica sold 10,000 shares of Knowles stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the completion of the sale, the vice president owned 62,537 shares in the company, valued at approximately $1,309,524.78. The trade was a 13.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert J. Perna sold 56,130 shares of Knowles stock in a transaction on Monday, July 28th. The stock was sold at an average price of $20.47, for a total transaction of $1,148,981.10. Following the completion of the sale, the senior vice president owned 66,552 shares of the company's stock, valued at approximately $1,362,319.44. This trade represents a 45.75% decrease in their position. The disclosure for this sale can be found here. 2.54% of the stock is currently owned by 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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