Simcoe Capital Management LLC Sells 76,183 Shares of Knowles Co. (NYSE:KN)

Simcoe Capital Management LLC trimmed its stake in Knowles Co. (NYSE:KN) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,990,597 shares of the communications equipment provider’s stock after selling 76,183 shares during the period. Knowles comprises approximately 8.9% of Simcoe Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Simcoe Capital Management LLC owned approximately 4.37% of Knowles worth $67,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KN. Cerity Partners LLC acquired a new position in Knowles in the first quarter valued at $821,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Knowles by 16.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 97,333 shares of the communications equipment provider’s stock valued at $1,598,000 after purchasing an additional 13,837 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Knowles during the fourth quarter worth approximately $861,000. Swiss National Bank increased its holdings in Knowles by 1.7% in the fourth quarter. Swiss National Bank now owns 221,300 shares of the communications equipment provider’s stock worth $3,634,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Ronald Blue Trust Inc. lifted its stake in Knowles by 265.4% in the first quarter. Ronald Blue Trust Inc. now owns 2,726 shares of the communications equipment provider’s stock valued at $45,000 after buying an additional 1,980 shares during the period. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Stock Performance

Knowles stock traded down $0.01 during mid-day trading on Tuesday, reaching $14.26. 223,269 shares of the company’s stock were exchanged, compared to its average volume of 645,799. The business’s fifty day simple moving average is $16.87 and its 200 day simple moving average is $16.80. The company has a quick ratio of 1.70, a current ratio of 3.47 and a debt-to-equity ratio of 0.05. Knowles Co. has a one year low of $11.57 and a one year high of $20.25. The firm has a market capitalization of $1.30 billion, a PE ratio of -6.61 and a beta of 1.42.

Knowles (NYSE:KN) last announced its quarterly earnings data on Wednesday, August 2nd. The communications equipment provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The company had revenue of $173.00 million during the quarter. Knowles had a positive return on equity of 4.57% and a negative net margin of 28.43%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KN. StockNews.com upgraded shares of Knowles from a “hold” rating to a “buy” rating in a report on Thursday, August 31st. Susquehanna cut their price target on Knowles from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, July 25th.

Knowles Profile

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 through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).