Teacher Retirement System of Texas bought a new stake in Knight Transportation, Inc. (NYSE:KNX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,456 shares of the transportation company’s stock, valued at approximately $202,000.

Several other large investors have also modified their holdings of KNX. US Bancorp DE raised its stake in shares of Knight Transportation by 0.3% in the second quarter. US Bancorp DE now owns 29,263 shares of the transportation company’s stock valued at $1,084,000 after buying an additional 92 shares during the period. Granite Investment Partners LLC raised its stake in shares of Knight Transportation by 0.4% in the second quarter. Granite Investment Partners LLC now owns 23,751 shares of the transportation company’s stock valued at $880,000 after buying an additional 92 shares during the period. Arizona State Retirement System raised its stake in shares of Knight Transportation by 0.3% in the second quarter. Arizona State Retirement System now owns 34,810 shares of the transportation company’s stock valued at $1,290,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Knight Transportation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the transportation company’s stock valued at $476,000 after buying an additional 150 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Knight Transportation by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 31,370 shares of the transportation company’s stock valued at $1,109,000 after buying an additional 150 shares during the period. 88.45% of the stock is currently owned by institutional investors and hedge funds.

Knight Transportation, Inc. (NYSE KNX) opened at 39.40 on Thursday. The stock has a market capitalization of $3.18 billion, a P/E ratio of 40.62 and a beta of 0.86. The firm has a 50 day moving average price of $36.40 and a 200 day moving average price of $34.22. Knight Transportation, Inc. has a 52 week low of $26.85 and a 52 week high of $40.20.

Knight Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. Knight Transportation had a net margin of 7.03% and a return on equity of 10.39%. The company had revenue of $273.20 million during the quarter, compared to analysts’ expectations of $283.88 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Knight Transportation’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that Knight Transportation, Inc. will post $0.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, August 30th. Knight Transportation’s dividend payout ratio (DPR) is currently 25.00%.

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Several research analysts have commented on KNX shares. BidaskClub lowered Knight Transportation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered Knight Transportation from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Wednesday, July 12th. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 price target (up previously from $41.00) on shares of Knight Transportation in a research report on Monday, July 10th. Stephens raised Knight Transportation from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $36.00 to $42.00 in a research report on Monday, June 12th. Finally, Deutsche Bank AG set a $45.00 price target on Knight Transportation and gave the stock a “buy” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Knight Transportation currently has an average rating of “Buy” and a consensus price target of $38.44.

In other news, VP James E. Jr. Updike sold 2,800 shares of Knight Transportation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $35.75, for a total value of $100,100.00. Following the completion of the transaction, the vice president now owns 16,096 shares in the company, valued at $575,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Todd F. Carlson sold 3,000 shares of Knight Transportation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the transaction, the general counsel now owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The disclosure for this sale can be found here. Insiders sold 7,675 shares of company stock valued at $282,155 in the last quarter. 9.90% of the stock is currently owned by corporate insiders.

Knight Transportation Company Profile

Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.

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Institutional Ownership by Quarter for Knight Transportation (NYSE:KNX)

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