Knoll Inc. (KNL) Stock Price Down 7.3%
Knoll Inc. (NYSE:KNL) traded down 7.3% on Tuesday . The stock traded as low as $22.30 and last traded at $22.47, with a volume of 489,902 shares changing hands. The stock had previously closed at $24.25.
Separately, Zacks Investment Research raised shares of Knoll from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, September 15th.
The company has a market capitalization of $1.07 billion, a PE ratio of 15.59 and a beta of 1.11. The firm’s 50 day moving average is $25.49 and its 200-day moving average is $23.74.
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Knoll (NYSE:KNL) last posted its earnings results on Wednesday, July 27th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Knoll had a net margin of 6.08% and a return on equity of 29.87%. The firm earned $294.70 million during the quarter, compared to analysts’ expectations of $286.95 million. During the same period last year, the company posted $0.36 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Knoll Inc. will post $1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 2.69%. Knoll’s dividend payout ratio is 41.38%.
In related news, Director Stephen F. Fisher sold 5,020 shares of Knoll stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $25.86, for a total transaction of $129,817.20. Following the completion of the transaction, the director now directly owns 42,594 shares of the company’s stock, valued at approximately $1,101,480.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sarah E. Nash sold 25,000 shares of Knoll stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $25.26, for a total transaction of $631,500.00. Following the transaction, the director now directly owns 57,805 shares of the company’s stock, valued at $1,460,154.30. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Group LTD boosted its position in shares of Knoll by 27.3% in the first quarter. BlackRock Group LTD now owns 108,133 shares of the company’s stock worth $2,341,000 after buying an additional 23,216 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Knoll by 87.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,823,754 shares of the company’s stock worth $39,484,000 after buying an additional 850,000 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Knoll by 1.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,036,717 shares of the company’s stock worth $65,745,000 after buying an additional 28,934 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Knoll by 11.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,050,790 shares of the company’s stock worth $44,400,000 after buying an additional 212,652 shares during the period. Finally, Neumeier Poma Investment Counsel LLC boosted its position in shares of Knoll by 14.1% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 929,555 shares of the company’s stock worth $20,125,000 after buying an additional 115,175 shares during the period. 92.38% of the stock is owned by institutional investors.
Knoll, Inc is a designer and manufacturer of furnishings, textiles and leather for the workplace and home. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes systems, seating, storage, tables, desks and KnollExtra ergonomic accessories, as well as the international sales of its North American Office products.
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