Knoll Inc. (NYSE:KNL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Knoll Inc, a leading designer and manufacturer of branded office furniture products and textiles, serves clients worldwide. Their commitment to innovation and modern design has yielded a comprehensive portfolio of products designed to provide enduring value and help clients shape their workplaces with imagination and vision. “
Shares of Knoll (NYSE:KNL) traded up 1.59% on Wednesday, hitting $23.04. The stock had a trading volume of 394,207 shares. Knoll has a 52 week low of $16.42 and a 52 week high of $26.76. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 16.11 and a beta of 1.11. The company has a 50-day moving average of $24.94 and a 200 day moving average of $23.86.
Knoll (NYSE:KNL) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $294.70 million for the quarter, compared to the consensus estimate of $286.95 million. Knoll had a return on equity of 29.87% and a net margin of 6.08%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. On average, equities research analysts predict that Knoll will post $1.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, September 13th. Knoll’s dividend payout ratio is 41.38%.
In related news, Director Sarah E. Nash sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $25.26, for a total transaction of $631,500.00. Following the transaction, the director now directly owns 57,805 shares of the company’s stock, valued at approximately $1,460,154.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen F. Fisher sold 5,020 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $25.86, for a total value of $129,817.20. Following the transaction, the director now directly owns 42,594 shares in the company, valued at $1,101,480.84. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Copper Rock Capital Partners LLC purchased a new position in Knoll during the second quarter worth $21,864,000. Adage Capital Partners GP L.L.C. increased its position in Knoll by 87.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,823,754 shares of the company’s stock worth $39,484,000 after buying an additional 850,000 shares during the period. Ranger Investment Management L.P. increased its position in Knoll by 442.5% in the second quarter. Ranger Investment Management L.P. now owns 891,615 shares of the company’s stock worth $21,648,000 after buying an additional 727,253 shares during the period. Numeric Investors LLC purchased a new position in Knoll during the second quarter worth $11,641,000. Finally, Hillcrest Asset Management LLC purchased a new position in Knoll during the first quarter worth $7,868,000. 92.38% of the stock is currently owned by institutional investors and hedge funds.
Knoll, Inc is a designer and manufacturer of furnishings, textiles and leather for the workplace and home. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes systems, seating, storage, tables, desks and KnollExtra ergonomic accessories, as well as the international sales of its North American Office products.
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