New York-based Harvey Partners initiated a new stake in Knowles Corporation, acquiring 622,500 shares for an estimated $14.5 million in the third quarter.
The change represents 1.3% of Harvey Partners’ 13F reportable assets under management as of September 30.
The KN position is not among the fund’s top five holdings.
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On November 14, New York-based Harvey Partners disclosed a new position in Knowles Corporation (NYSE:KN), adding 622,500 shares valued at approximately $14.5 million during the third quarter.
According to a filing with the Securities and Exchange Commission dated November 14, Harvey Partners established a new position in Knowles Corporation (NYSE:KN). The firm reported a holding of 622,500 shares, amounting to a market value of approximately $14.5 million as of September 30. The position accounts for 1.3% of the fund’s reportable U.S. equity assets.
Top holdings after the filing:
NYSE: NPO: $56.3 million (5.1% of AUM)
NYSE: BWXT: $53.4 million (4.9% of AUM)
NYSE: AZZ: $53 million (4.8% of AUM)
NASDAQ: GLDD: $44.4 million (4% of AUM)
NASDAQ: ADEA: $43.9 million (4% of AUM)
As of Friday, shares of Knowles Corporation were priced at $23.37, up 20% over the past year and well outperforming the S&P 500, which is up 13% in the same period.
Metric
Value
Price (as of market close Friday)
$23.37
Market Capitalization
$2 billion
Revenue (TTM)
$573.5 million
Net Income (TTM)
$35.8 million
Knowles Corporation offers micro-acoustic microphones, balanced armature speakers, audio processors, high-performance capacitors, and RF solutions across consumer electronics, medtech, defense, electric vehicle, industrial, and communications sectors.
The company generates revenue by designing, manufacturing, and selling audio and precision device components to original equipment manufacturers, contract manufacturers, and distributors worldwide.
Primary customers include global OEMs in mobile, hearing health, IoT, computing, medical,…
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