1060 Capital LLC Takes Position in Knoll, Inc. (KNL)
1060 Capital LLC acquired a new position in Knoll, Inc. (NYSE:KNL) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 57,258 shares of the business services provider’s stock, valued at approximately $1,148,000. Knoll accounts for approximately 0.3% of 1060 Capital LLC’s holdings, making the stock its 24th largest position. 1060 Capital LLC owned about 0.12% of Knoll as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. MARSHALL WACE ASIA Ltd purchased a new position in Knoll during the first quarter worth about $2,205,000. Macquarie Group Ltd. increased its position in Knoll by 8.9% in the first quarter. Macquarie Group Ltd. now owns 1,343,071 shares of the business services provider’s stock worth $31,979,000 after buying an additional 109,211 shares in the last quarter. Swiss National Bank increased its position in Knoll by 2.1% in the first quarter. Swiss National Bank now owns 81,200 shares of the business services provider’s stock worth $1,933,000 after buying an additional 1,700 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Knoll during the first quarter worth about $12,294,000. Finally, Legato Capital Management LLC purchased a new position in Knoll during the second quarter worth about $391,000. 90.68% of the stock is currently owned by hedge funds and other institutional investors.
Knoll, Inc. (NYSE:KNL) opened at 18.24 on Tuesday. The stock has a market capitalization of $884.06 million, a P/E ratio of 12.59 and a beta of 0.98. Knoll, Inc. has a one year low of $16.57 and a one year high of $28.40. The company has a 50 day moving average of $18.82 and a 200-day moving average of $21.71.
Knoll (NYSE:KNL) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $268.70 million during the quarter, compared to analyst estimates of $284.65 million. Knoll had a net margin of 6.43% and a return on equity of 23.40%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. Equities research analysts predict that Knoll, Inc. will post $1.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, September 14th. Knoll’s dividend payout ratio is presently 41.38%.
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A number of equities analysts have issued reports on KNL shares. Zacks Investment Research raised shares of Knoll from a “sell” rating to a “hold” rating in a report on Monday, May 1st. ValuEngine downgraded shares of Knoll from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Raymond James Financial, Inc. raised shares of Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Monday. UBS AG raised shares of Knoll from a “market perform” rating to an “outperform” rating in a report on Monday. Finally, Sidoti assumed coverage on shares of Knoll in a report on Wednesday, August 16th. They issued a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Knoll has a consensus rating of “Buy” and a consensus price target of $24.50.
In other news, Director Benjamin A. Pardo sold 2,200 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $19.45, for a total value of $42,790.00. Following the transaction, the director now directly owns 23,773 shares of the company’s stock, valued at $462,384.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Knoll, Inc is a manufacturer of commercial and residential furniture, accessories and coverings. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes a range of workplace products that address workplace planning paradigms. These products include systems furniture, seating, storage, tables, desks and KnollExtra accessories, as well as the international sales of its North American Office products.
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