Victory Capital Management Inc. Grows Position in Knoll, Inc. (KNL)
Victory Capital Management Inc. lifted its stake in Knoll, Inc. (NYSE:KNL) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,151 shares of the business services provider’s stock after buying an additional 1,655 shares during the period. Victory Capital Management Inc.’s holdings in Knoll were worth $444,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MARSHALL WACE ASIA Ltd bought a new stake in shares of Knoll in the first quarter valued at about $2,205,000. Federated Investors Inc. PA lifted its stake in Knoll by 71.7% during the second quarter. Federated Investors Inc. PA now owns 111,974 shares of the business services provider’s stock worth $2,245,000 after purchasing an additional 46,749 shares during the period. Macquarie Group Ltd. lifted its stake in Knoll by 8.9% during the first quarter. Macquarie Group Ltd. now owns 1,343,071 shares of the business services provider’s stock worth $31,979,000 after purchasing an additional 109,211 shares during the period. Swiss National Bank lifted its stake in Knoll by 2.1% during the first quarter. Swiss National Bank now owns 81,200 shares of the business services provider’s stock worth $1,933,000 after purchasing an additional 1,700 shares during the period. Finally, William Blair Investment Management LLC bought a new position in Knoll during the first quarter worth about $12,294,000. Institutional investors and hedge funds own 90.68% of the company’s stock.
Knoll, Inc. (NYSE:KNL) opened at 18.30 on Tuesday. The firm’s 50-day moving average is $18.23 and its 200-day moving average is $21.09. Knoll, Inc. has a 52 week low of $16.57 and a 52 week high of $28.40. The company has a market cap of $886.96 million, a PE ratio of 12.63 and a beta of 0.99.
Knoll (NYSE:KNL) last announced its earnings results on Thursday, July 27th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.08). Knoll had a return on equity of 23.40% and a net margin of 6.43%. The business had revenue of $268.70 million for the quarter, compared to analyst estimates of $284.65 million. During the same quarter in the previous year, the company earned $0.44 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts expect that Knoll, Inc. will post $1.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.28%. Knoll’s payout ratio is presently 41.38%.
A number of brokerages have commented on KNL. Zacks Investment Research upgraded shares of Knoll from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, June 21st. Raymond James Financial, Inc. upgraded shares of Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research note on Monday, August 28th. UBS AG upgraded shares of Knoll from a “market perform” rating to an “outperform” rating in a research note on Monday, August 28th. Sidoti began coverage on shares of Knoll in a research note on Wednesday, August 16th. They set a “buy” rating and a $28.00 price target for the company. Finally, TheStreet cut shares of Knoll from a “b-” rating to a “c+” rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Knoll has an average rating of “Buy” and an average target price of $24.50.
In other Knoll news, Director Benjamin A. Pardo sold 2,200 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $19.45, for a total transaction of $42,790.00. Following the transaction, the director now owns 23,773 shares in the company, valued at approximately $462,384.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.
Knoll Company Profile
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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