Cramer Rosenthal Mcglynn LLC Sells 28,243 Shares of Knowles Corporation $KN

Key Points

• Cramer Rosenthal Mcglynn LLC reduced its holdings in Knowles Corporation by 2.8%, now owning about 991,041 shares valued at approximately $15.06 million.
• Several other hedge funds have increased their stakes, including Bank of America, which raised its stake by 17.9%, now totaling 436,464 shares.
• Knowles' stock has an average rating of "Moderate Buy" with a consensus price target of $21.00 after recent changes in analyst ratings.

Cramer Rosenthal Mcglynn LLC decreased its holdings in shares of Knowles Corporation (NYSE:KN - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 991,041 shares of the communications equipment provider's stock after selling 28,243 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 1.14% of Knowles worth $15,064,000 as of its most recent SEC filing.

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 Knowles by 31.5% during the first quarter. Royce & Associates LP now owns 1,611,679 shares of the communications equipment provider's stock worth $24,498,000 after buying an additional 386,155 shares during the last quarter. Nuveen LLC acquired a new position in Knowles during the first quarter worth $5,581,000. Allspring Global Investments Holdings LLC raised its holdings 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 buying an additional 320,587 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new position in Knowles during the first quarter worth $4,697,000. Institutional investors and hedge funds own 96.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Knowles from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Craig Hallum upped their target price 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. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Knowles Stock Down 1.8%

Shares of NYSE KN traded down $0.40 during trading on Friday, hitting $21.33. The stock had a trading volume of 398,894 shares, compared to its average volume of 539,686. Knowles Corporation has a 12 month low of $12.19 and a 12 month high of $21.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.00 and a quick ratio of 1.29. The company has a market capitalization of $1.83 billion, a PE ratio of 73.54 and a beta of 1.45. The firm has a fifty day moving average of $19.34 and a two-hundred day moving average of $17.27.

Insider Activity

In related 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 approximately $1,309,524.78. This represents a 13.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert J. Perna sold 56,130 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 66,552 shares of the company's stock, valued at approximately $1,362,319.44. The trade was 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 corporate insiders.

Knowles Company 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).