Knoll Inc (KNL) Shares Sold by Globeflex Capital L P
Globeflex Capital L P reduced its position in shares of Knoll Inc (NYSE:KNL) by 7.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 44,655 shares of the business services provider’s stock after selling 3,844 shares during the period. Globeflex Capital L P’s holdings in Knoll were worth $929,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sun Life Financial INC purchased a new position in shares of Knoll during the second quarter worth $143,000. Xact Kapitalforvaltning AB boosted its position in shares of Knoll by 29.6% during the first quarter. Xact Kapitalforvaltning AB now owns 11,381 shares of the business services provider’s stock worth $230,000 after buying an additional 2,600 shares during the period. SG Americas Securities LLC boosted its position in shares of Knoll by 48.9% during the first quarter. SG Americas Securities LLC now owns 12,283 shares of the business services provider’s stock worth $248,000 after buying an additional 4,034 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Knoll during the second quarter worth $269,000. Finally, Greenwich Wealth Management LLC boosted its position in shares of Knoll by 16.3% during the second quarter. Greenwich Wealth Management LLC now owns 19,984 shares of the business services provider’s stock worth $416,000 after buying an additional 2,801 shares during the period. Institutional investors and hedge funds own 89.72% of the company’s stock.
KNL has been the topic of several analyst reports. Zacks Investment Research upgraded Knoll from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Saturday, August 4th. ValuEngine upgraded Knoll from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th.
Knoll (NYSE:KNL) last announced its quarterly earnings data on Monday, July 30th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $323.40 million for the quarter, compared to analysts’ expectations of $307.70 million. Knoll had a return on equity of 20.90% and a net margin of 6.54%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. analysts anticipate that Knoll Inc will post 1.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, September 13th. Knoll’s payout ratio is currently 43.48%.
In other news, SVP Roxanne B. Klein sold 1,835 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $22.90, for a total value of $42,021.50. Following the sale, the senior vice president now directly owns 16,592 shares in the company, valued at $379,956.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Andrew B. Cogan sold 18,000 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $23.00, for a total value of $414,000.00. Following the completion of the sale, the chairman now owns 520,613 shares in the company, valued at $11,974,099. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,835 shares of company stock worth $571,572. Insiders own 1.90% of the company’s stock.
Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, textiles, fine leathers, and felt for the workplace and residential markets in the United States, Canada, and Europe. The company operates through three segments: Office, Studio, and Coverings.
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