Knowles Co. (NYSE:KN) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its stake in shares of Knowles Co. (NYSE:KN) by 65.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 66,694 shares of the communications equipment provider’s stock after selling 128,919 shares during the period. Millennium Management LLC’s holdings in Knowles were worth $1,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KN. EverSource Wealth Advisors LLC lifted its position in shares of Knowles by 46.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,095 shares of the communications equipment provider’s stock worth $42,000 after purchasing an additional 669 shares during the last quarter. Sterling Capital Management LLC raised its stake in Knowles by 835.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,741 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 2,448 shares in the last quarter. Blue Trust Inc. raised its stake in Knowles by 72.4% during the 4th quarter. Blue Trust Inc. now owns 3,451 shares of the communications equipment provider’s stock worth $69,000 after acquiring an additional 1,449 shares in the last quarter. KBC Group NV raised its stake in Knowles by 66.6% during the 4th quarter. KBC Group NV now owns 4,869 shares of the communications equipment provider’s stock worth $97,000 after acquiring an additional 1,947 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in Knowles during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Insider Buying and Selling at Knowles

In other news, SVP Raymond D. Cabrera sold 5,545 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $17.25, for a total value of $95,651.25. Following the completion of the sale, the senior vice president now owns 111,286 shares of the company’s stock, valued at $1,919,683.50. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.54% of the stock is owned by company insiders.

Knowles Stock Up 2.3%

Shares of NYSE KN opened at $16.62 on Wednesday. Knowles Co. has a 12-month low of $12.19 and a 12-month high of $20.86. The company has a market capitalization of $1.45 billion, a PE ratio of -6.27 and a beta of 1.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.23. The firm’s 50-day moving average is $15.56 and its two-hundred day moving average is $17.53.

Knowles (NYSE:KN) last announced its quarterly earnings data on Thursday, April 24th. The communications equipment provider reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $132.20 million during the quarter, compared to the consensus estimate of $128.95 million. Knowles had a positive return on equity of 5.52% and a negative net margin of 34.66%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share.

Wall Street Analyst Weigh In

A number of research firms have commented on KN. Robert W. Baird lifted their price objective on shares of Knowles from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Wall Street Zen lowered shares of Knowles from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, Craig Hallum upgraded shares of Knowles from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, April 7th.

Knowles 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).