Petrus Trust Company LTA Invests $243,000 in Knoll, Inc. (KNL) Stock
Petrus Trust Company LTA acquired a new stake in Knoll, Inc. (NYSE:KNL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,128 shares of the business services provider’s stock, valued at approximately $243,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System grew its stake in Knoll by 2.4% in the 1st quarter. New York State Teachers Retirement System now owns 4,300 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 100 shares during the last quarter. Quantbot Technologies LP grew its stake in Knoll by 1,808.0% in the 1st quarter. Quantbot Technologies LP now owns 7,193 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 6,816 shares during the last quarter. Strs Ohio grew its stake in Knoll by 6.0% in the 2nd quarter. Strs Ohio now owns 8,800 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 500 shares during the last quarter. Sei Investments Co. grew its stake in Knoll by 35.1% in the 1st quarter. Sei Investments Co. now owns 9,016 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 2,343 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Knoll in the 2nd quarter valued at about $194,000. 90.68% of the stock is currently owned by hedge funds and other institutional investors.
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In other Knoll news, Director Benjamin A. Pardo sold 2,200 shares of Knoll stock in a transaction dated Tuesday, August 1st. The stock was 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 of the company’s stock, valued at approximately $462,384.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.
A number of brokerages recently commented on KNL. Zacks Investment Research cut shares of Knoll from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Sidoti began coverage on shares of Knoll in a research note on Wednesday, August 16th. They issued a “buy” rating and a $28.00 price objective on the stock. TheStreet cut shares of Knoll from a “b-” rating to a “c+” rating in a research note on Thursday, September 7th. ValuEngine cut shares of Knoll from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, 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 research note on Monday, August 28th. One investment 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. The stock has a consensus rating of “Buy” and an average target price of $24.50.
Knoll, Inc. (KNL) traded up 0.60% during midday trading on Friday, hitting $20.00. 306,361 shares of the company’s stock traded hands. Knoll, Inc. has a 52 week low of $16.57 and a 52 week high of $28.40. The company has a market capitalization of $969.36 million, a PE ratio of 13.80 and a beta of 0.99. The company has a 50 day moving average of $18.20 and a 200-day moving average of $21.05.
Knoll (NYSE:KNL) last released its earnings results on Thursday, July 27th. The business services provider reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.08). Knoll had a net margin of 6.43% and a return on equity of 23.40%. The business had revenue of $268.70 million for the quarter, compared to analysts’ expectations of $284.65 million. During the same period last year, the firm earned $0.44 EPS. The company’s revenue was down 8.8% compared to the same quarter last year. Equities research analysts predict that Knoll, Inc. will post $1.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.60 annualized dividend and a yield of 3.00%. Knoll’s dividend payout ratio (DPR) is presently 41.38%.
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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