Allspring Global Investments Holdings LLC Has $12.25 Million Stock Holdings in Knowles Co. (NYSE:KN)

Allspring Global Investments Holdings LLC boosted its stake in Knowles Co. (NYSE:KN) by 220.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 684,057 shares of the communications equipment provider’s stock after purchasing an additional 470,376 shares during the period. Allspring Global Investments Holdings LLC owned about 0.76% of Knowles worth $12,251,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KN. Federated Hermes Inc. bought a new position in shares of Knowles in the 3rd quarter valued at $33,000. Belpointe Asset Management LLC raised its holdings in Knowles by 53.0% in the 1st quarter. Belpointe Asset Management LLC now owns 2,135 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 740 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Knowles by 160.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,384 shares of the communications equipment provider’s stock worth $41,000 after buying an additional 1,469 shares during the period. Captrust Financial Advisors grew its holdings in Knowles by 65.5% during the 1st quarter. Captrust Financial Advisors now owns 3,003 shares of the communications equipment provider’s stock worth $65,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Knowles in the third quarter worth $81,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

Knowles Stock Performance

Shares of KN opened at $15.58 on Tuesday. The company has a current ratio of 2.61, a quick ratio of 1.41 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.40 billion, a P/E ratio of 19.72 and a beta of 1.49. The firm’s fifty day simple moving average is $16.05 and its two-hundred day simple moving average is $15.99. Knowles Co. has a 12 month low of $12.78 and a 12 month high of $18.48.

Knowles (NYSE:KN) last announced its quarterly earnings data on Wednesday, February 7th. The communications equipment provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Knowles had a return on equity of 5.28% and a net margin of 10.23%. The company had revenue of $215.20 million for the quarter.

Insiders Place Their Bets

In other Knowles news, SVP Raymond D. Cabrera sold 10,300 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $16.90, for a total value of $174,070.00. Following the completion of the sale, the senior vice president now directly owns 94,870 shares in the company, valued at $1,603,303. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on KN shares. TheStreet raised Knowles from a “d+” rating to a “c-” rating in a report on Tuesday, January 2nd. StockNews.com upgraded Knowles from a “hold” rating to a “buy” rating in a report on Friday, February 16th.

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).