Envestnet Asset Management Inc. Raises Stock Holdings in Knowles Co. (NYSE:KN)

Envestnet Asset Management Inc. lifted its holdings in Knowles Co. (NYSE:KNGet Rating) by 29.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,516 shares of the communications equipment provider’s stock after buying an additional 13,716 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Knowles were worth $1,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Knowles by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,244,149 shares of the communications equipment provider’s stock worth $220,556,000 after purchasing an additional 110,065 shares during the period. Dimensional Fund Advisors LP increased its holdings in Knowles by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,508,545 shares of the communications equipment provider’s stock worth $140,133,000 after purchasing an additional 50,794 shares during the period. State Street Corp increased its holdings in Knowles by 9.5% during the 1st quarter. State Street Corp now owns 3,243,302 shares of the communications equipment provider’s stock worth $69,828,000 after purchasing an additional 282,174 shares during the period. JPMorgan Chase & Co. increased its holdings in Knowles by 36.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,201,191 shares of the communications equipment provider’s stock worth $25,862,000 after purchasing an additional 322,967 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Knowles by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 944,638 shares of the communications equipment provider’s stock worth $20,338,000 after purchasing an additional 29,160 shares during the period. 99.14% of the stock is currently owned by hedge funds and other institutional investors.

Knowles Stock Up 1.8 %

Knowles stock opened at $15.05 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.87 and a quick ratio of 1.39. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -10.45 and a beta of 1.46. Knowles Co. has a 1-year low of $11.57 and a 1-year high of $23.81. The business has a fifty day moving average price of $13.28 and a 200-day moving average price of $16.01.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Craig Hallum reduced their price objective on Knowles to $18.00 in a report on Tuesday, November 1st. Roth Capital cut Knowles from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $17.00 in a research report on Wednesday, August 3rd. TheStreet cut Knowles from a “c-” rating to a “d+” rating in a research report on Monday, September 19th. Finally, StockNews.com initiated coverage on Knowles in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.10.

Insider Transactions at Knowles

In other Knowles news, Director Daniel J. Crowley acquired 2,000 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was purchased at an average price of $13.97 per share, with a total value of $27,940.00. Following the transaction, the director now directly owns 19,815 shares of the company’s stock, valued at $276,815.55. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.15% of the company’s stock.

Knowles Company Profile

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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 in two segments, Audio and Precision Devices (PD).

Further Reading

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Institutional Ownership by Quarter for Knowles (NYSE:KN)

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