Nuveen LLC Invests $5.58 Million in Knowles Corporation $KN

Key Points

• Nuveen LLC has invested approximately $5.58 million in Knowles Corporation by acquiring 367,148 shares, representing 0.42% of the company's stock.
• Recent insider transactions include notable sales by executives, with VP Air A. Jr. Bastarrica selling 10,000 shares and SVP Robert J. Perna selling 56,130 shares, indicating a significant decrease in their ownership stakes.
• Analysts are mixed on Knowles, with one downgrade from a "strong-buy" to a "buy" rating, while another analyst raised the price target to $22.00, reflecting cautious optimism about the company's market performance.

Nuveen LLC bought a new position in Knowles Corporation (NYSE:KN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 367,148 shares of the communications equipment provider's stock, valued at approximately $5,581,000. Nuveen LLC owned approximately 0.42% of Knowles at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Knowles by 4.5% in the 4th quarter. Wellington Management Group LLP now owns 2,499,431 shares of the communications equipment provider's stock worth $49,814,000 after acquiring an additional 106,763 shares in the last quarter. Royce & Associates LP increased its holdings 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 worth $24,498,000 after acquiring an additional 386,155 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Knowles in the 4th quarter worth approximately $28,798,000. Allspring Global Investments Holdings LLC increased its holdings in Knowles by 38.6% in 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 acquiring an additional 320,587 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Knowles by 9.8% in the 4th quarter. Northern Trust Corp now owns 1,016,435 shares of the communications equipment provider's stock worth $20,258,000 after acquiring an additional 90,953 shares in the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KN has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Knowles from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Craig Hallum increased their price objective on shares of Knowles from $20.00 to $22.00 and gave the company a "buy" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Knowles presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Knowles Trading Down 1.8%

KN stock traded down $0.40 during mid-day trading on Friday, reaching $21.33. 398,894 shares of the stock traded hands, compared to its average volume of 716,502. Knowles Corporation has a one year low of $12.19 and a one year high of $21.74. The stock has a market capitalization of $1.83 billion, a PE ratio of 73.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00. The business has a 50-day moving average price of $19.26 and a two-hundred day moving average price of $17.25.

Insider Activity

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