Oregon Public Employees Retirement Fund trimmed its holdings in shares of Knowles Co. (NYSE:KN – Free Report) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,488 shares of the communications equipment provider’s stock after selling 800 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Knowles were worth $514,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI increased its holdings in Knowles by 7.4% in the 2nd quarter. National Bank of Canada FI now owns 69,904 shares of the communications equipment provider’s stock worth $1,261,000 after acquiring an additional 4,806 shares during the last quarter. Olympiad Research LP purchased a new position in Knowles during the 2nd quarter valued at about $307,000. Allspring Global Investments Holdings LLC grew its holdings in Knowles by 57.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,192 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 797 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in Knowles during the 2nd quarter valued at about $394,000. Finally, Creative Planning grew its holdings in Knowles by 1.1% during the 2nd quarter. Creative Planning now owns 112,521 shares of the communications equipment provider’s stock valued at $2,032,000 after buying an additional 1,259 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
KN has been the subject of a number of recent analyst reports. Susquehanna reduced their target price on Knowles from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, July 25th. StockNews.com raised Knowles from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th.
Knowles Stock Performance
Shares of KN opened at $13.39 on Friday. The company has a market cap of $1.22 billion, a PE ratio of -6.20 and a beta of 1.42. The company has a current ratio of 3.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $15.05 and a 200-day moving average price of $16.38. Knowles Co. has a 12-month low of $12.21 and a 12-month high of $20.25.
Knowles (NYSE:KN – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). The business had revenue of $173.00 million for the quarter. Knowles had a negative net margin of 28.43% and a positive return on equity of 4.57%.
Knowles Profile
Knowles Corporation offers micro-acoustic microphones and balanced armature speakers, audio solutions, high performance capacitors, and radio frequency products for the consumer electronics, medtech, defense, electric vehicle, industrial, and communications markets. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).
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