Ballast Asset Management LP Sells 5,089 Shares of Knowles Co. (NYSE:KN)

Ballast Asset Management LP cut its position in Knowles Co. (NYSE:KN) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,916 shares of the communications equipment provider’s stock after selling 5,089 shares during the quarter. Knowles comprises about 1.7% of Ballast Asset Management LP’s portfolio, making the stock its 25th biggest holding. Ballast Asset Management LP owned approximately 0.19% of Knowles worth $3,327,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Knowles by 46.9% during the fourth 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 period. Blue Trust Inc. increased 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 during the period. KBC Group NV increased 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 during the period. Central Pacific Bank Trust Division acquired a new position in Knowles in the 4th quarter valued at $194,000. Finally, FourThought Financial Partners LLC bought a new stake in shares of Knowles during the 4th quarter valued at $201,000. Institutional investors own 96.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on KN shares. Craig Hallum cut Knowles from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research report on Friday, February 14th. StockNews.com upgraded shares of Knowles from a “hold” rating to a “buy” rating in a research note on Monday, February 17th.

Knowles Stock Down 0.9 %

Shares of KN opened at $15.22 on Tuesday. The firm has a 50 day simple moving average of $17.46 and a two-hundred day simple moving average of $18.27. The company has a market cap of $1.33 billion, a P/E ratio of -5.74 and a beta of 1.42. Knowles Co. has a one year low of $14.95 and a one year high of $20.86. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.23.

Knowles (NYSE:KN) last posted its quarterly earnings results on Thursday, February 13th. The communications equipment provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $142.50 million for the quarter. Knowles had a positive return on equity of 5.52% and a negative net margin of 34.66%.

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).