Knoll Inc. (KNL) Sees Strong Trading Volume
Knoll Inc. (NYSE:KNL) shares saw strong trading volume on Wednesday . 306,276 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 293,508 shares.The stock last traded at $22.41 and had previously closed at $22.29.
Separately, Zacks Investment Research upgraded Knoll from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, August 2nd.
The company has a 50-day moving average of $25.32 and a 200 day moving average of $23.75. The stock has a market capitalization of $1.08 billion, a P/E ratio of 15.66 and a beta of 1.11.
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Knoll (NYSE:KNL) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Knoll had a return on equity of 29.87% and a net margin of 6.08%. The firm had revenue of $294.70 million for the quarter, compared to the consensus estimate of $286.95 million. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts expect that Knoll Inc. will post $1.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.68%. The ex-dividend date is Tuesday, September 13th. Knoll’s dividend payout ratio is 41.38%.
In other Knoll news, SVP Michael A. Pollner sold 4,386 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $25.62, for a total transaction of $112,369.32. Following the transaction, the senior vice president now owns 32,500 shares of the company’s stock, valued at approximately $832,650. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Andrew B. Cogan sold 55,054 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $25.31, for a total value of $1,393,416.74. Following the transaction, the insider now directly owns 530,212 shares in the company, valued at approximately $13,419,665.72. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of KNL. New York State Teachers Retirement System bought a new position in Knoll during the second quarter worth $102,000. Acrospire Investment Management LLC increased its position in Knoll by 404.0% in the second quarter. Acrospire Investment Management LLC now owns 4,491 shares of the company’s stock worth $109,000 after buying an additional 3,600 shares during the period. Walleye Trading LLC bought a new position in Knoll during the second quarter worth $119,000. BlackRock Japan Co. Ltd increased its position in Knoll by 41.4% in the first quarter. BlackRock Japan Co. Ltd now owns 6,523 shares of the company’s stock worth $141,000 after buying an additional 1,910 shares during the period. Finally, Sei Investments Co. increased its position in Knoll by 271.1% in the second quarter. Sei Investments Co. now owns 6,569 shares of the company’s stock worth $160,000 after buying an additional 4,799 shares during the period. 92.38% of the stock is currently owned by hedge funds and other 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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