Knoll Inc. (KNL) Downgraded by Raymond James Financial Inc. to Market Perform
Separately, Zacks Investment Research lowered Knoll from a buy rating to a hold rating in a research report on Wednesday, June 29th.
Shares of Knoll (NYSE:KNL) traded down 2.89% on Friday, hitting $22.19. The stock had a trading volume of 523,770 shares. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 15.52 and a beta of 1.08. The stock has a 50 day moving average of $24.80 and a 200 day moving average of $23.87. Knoll has a 12-month low of $16.42 and a 12-month high of $26.76.
Knoll (NYSE:KNL) last posted its quarterly earnings results 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 business earned $294.70 million during the quarter, compared to analyst estimates of $286.95 million. Knoll had a return on equity of 29.87% and a net margin of 6.08%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Equities analysts predict that Knoll will post $1.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Tuesday, September 13th. Knoll’s dividend payout ratio (DPR) is 41.38%.
In other Knoll news, Director Stephen F. Fisher sold 5,020 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $25.86, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin A. Pardo sold 2,500 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $25.74, for a total value of $64,350.00. Following the transaction, the director now owns 24,425 shares in the company, valued at $628,699.50. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System bought a new stake in Knoll during the second quarter worth $102,000. Acrospire Investment Management LLC raised its stake in Knoll by 404.0% in the second quarter. Acrospire Investment Management LLC now owns 4,491 shares of the company’s stock worth $109,000 after buying an additional 3,600 shares in the last quarter. Walleye Trading LLC bought a new stake in Knoll during the second quarter worth $119,000. BlackRock Japan Co. Ltd raised its stake in Knoll by 41.4% in the first quarter. BlackRock Japan Co. Ltd now owns 6,523 shares of the company’s stock worth $141,000 after buying an additional 1,910 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Knoll by 271.1% in the second quarter. Sei Investments Co. now owns 6,569 shares of the company’s stock worth $160,000 after buying an additional 4,799 shares in the last quarter. 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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