Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in Knowles Co. (NYSE:KN)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Knowles Co. (NYSE:KN) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,179 shares of the communications equipment provider’s stock after selling 59,931 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of Knowles worth $4,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC raised its position in Knowles by 20.0% during the third quarter. CWM LLC now owns 3,643 shares of the communications equipment provider’s stock worth $66,000 after acquiring an additional 607 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Knowles by 4.8% during the 2nd quarter. Hsbc Holdings PLC now owns 14,489 shares of the communications equipment provider’s stock worth $248,000 after purchasing an additional 661 shares in the last quarter. GAMMA Investing LLC lifted its stake in Knowles by 37.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,445 shares of the communications equipment provider’s stock valued at $44,000 after buying an additional 668 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Knowles by 10.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 9,276 shares of the communications equipment provider’s stock valued at $167,000 after buying an additional 845 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Knowles by 6.1% during the 1st quarter. ProShare Advisors LLC now owns 17,914 shares of the communications equipment provider’s stock valued at $288,000 after buying an additional 1,028 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Susquehanna reduced their price objective on Knowles from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Craig Hallum upgraded shares of Knowles to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com cut shares of Knowles from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th.

Knowles Price Performance

Shares of NYSE:KN opened at $18.93 on Friday. The company has a market cap of $1.67 billion, a P/E ratio of -8.09 and a beta of 1.42. The business has a fifty day simple moving average of $17.85 and a 200-day simple moving average of $17.69. Knowles Co. has a 52 week low of $14.97 and a 52 week high of $19.73. 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 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $142.50 million during the quarter, compared to analysts’ expectations of $140.97 million. Knowles had a positive return on equity of 5.16% and a negative net margin of 27.53%. The firm’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS.

Insider Buying and Selling

In other news, SVP Robert J. Perna sold 21,080 shares of Knowles stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $17.56, for a total value of $370,164.80. Following the transaction, the senior vice president now directly owns 66,063 shares of the company’s stock, valued at $1,160,066.28. The trade was a 24.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cheryl L. Shavers sold 12,579 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $17.29, for a total value of $217,490.91. Following the sale, the director now owns 48,933 shares of the company’s stock, valued at $846,051.57. The trade was a 20.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,845 shares of company stock valued at $3,774,234. Insiders own 2.65% of the company’s stock.

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).