Public Sector Pension Investment Board Trims Stock Holdings in Knowles Co. (NYSE:KN)

Public Sector Pension Investment Board lessened its position in shares of Knowles Co. (NYSE:KN) by 0.9% during the 3rd quarter, Holdings Channel reports. The firm owned 195,599 shares of the communications equipment provider’s stock after selling 1,849 shares during the quarter. Public Sector Pension Investment Board’s holdings in Knowles were worth $3,527,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Knowles by 54,279.3% in the third quarter. Pacer Advisors Inc. now owns 2,621,626 shares of the communications equipment provider’s stock valued at $47,268,000 after purchasing an additional 2,616,805 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Knowles by 569.5% during the second quarter. Victory Capital Management Inc. now owns 665,947 shares of the communications equipment provider’s stock worth $11,494,000 after acquiring an additional 566,476 shares during the period. Dimensional Fund Advisors LP raised its position in Knowles by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 6,678,995 shares of the communications equipment provider’s stock valued at $115,277,000 after acquiring an additional 375,822 shares in the last quarter. Foundry Partners LLC acquired a new position in Knowles in the third quarter valued at approximately $5,243,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Knowles in the 2nd quarter worth approximately $3,468,000. 96.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Knowles

In other Knowles news, Director Cheryl L. Shavers sold 12,579 shares of Knowles stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $17.29, for a total transaction of $217,490.91. Following the completion of the sale, the director now directly owns 48,933 shares in the company, valued at $846,051.57. This trade represents a 20.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Air A. Jr. Bastarrica sold 3,762 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $19.46, for a total transaction of $73,208.52. Following the completion of the transaction, the vice president now owns 61,681 shares in the company, valued at approximately $1,200,312.26. This represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,845 shares of company stock worth $3,774,234 in the last quarter. Company insiders own 2.57% of the company’s stock.

Knowles Trading Down 1.3 %

Shares of KN opened at $19.89 on Wednesday. Knowles Co. has a 52-week low of $14.97 and a 52-week high of $20.26. The stock has a market cap of $1.75 billion, a PE ratio of -8.50 and a beta of 1.44. The firm’s fifty day moving average is $18.14 and its two-hundred day moving average is $17.80. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.23.

Knowles (NYSE:KN) last posted its quarterly earnings results on Thursday, October 24th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $142.50 million for the quarter, compared to analyst estimates of $140.97 million. Knowles had a negative net margin of 27.53% and a positive return on equity of 5.16%. Knowles’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share.

Analyst Upgrades and Downgrades

KN has been the subject of several recent research reports. Craig Hallum raised shares of Knowles to a “strong-buy” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Knowles from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, Susquehanna cut their price objective on Knowles from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

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).