Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Knoll Inc (NYSE:KNL) by 53.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,104 shares of the business services provider’s stock after acquiring an additional 110,000 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.63% of Knoll worth $7,218,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in KNL. FMR LLC grew its position in Knoll by 49.3% in the first quarter. FMR LLC now owns 4,255,112 shares of the business services provider’s stock valued at $80,465,000 after acquiring an additional 1,405,880 shares during the last quarter. LSV Asset Management boosted its stake in shares of Knoll by 83.6% during the second quarter. LSV Asset Management now owns 1,594,887 shares of the business services provider’s stock valued at $36,650,000 after purchasing an additional 726,143 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Knoll by 455.7% during the second quarter. Prudential Financial Inc. now owns 389,225 shares of the business services provider’s stock valued at $8,944,000 after purchasing an additional 319,187 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Knoll by 16.6% during the first quarter. Westwood Holdings Group Inc. now owns 1,684,909 shares of the business services provider’s stock valued at $31,862,000 after purchasing an additional 240,005 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Knoll by 67.0% during the second quarter. JPMorgan Chase & Co. now owns 495,781 shares of the business services provider’s stock valued at $11,085,000 after purchasing an additional 198,873 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.
Shares of KNL stock opened at $24.89 on Thursday. The business’s 50-day moving average price is $23.34 and its 200-day moving average price is $21.56. Knoll Inc has a 12 month low of $15.72 and a 12 month high of $25.89. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 13.45 and a beta of 1.44. The company has a current ratio of 1.15, a quick ratio of 0.53 and a debt-to-equity ratio of 1.27.
Knoll (NYSE:KNL) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Knoll had a return on equity of 24.27% and a net margin of 6.11%. The firm had revenue of $367.30 million for the quarter, compared to analyst estimates of $339.13 million. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, sell-side analysts predict that Knoll Inc will post 2.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Knoll’s payout ratio is 36.76%.
Separately, Zacks Investment Research raised Knoll from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, July 30th.
In other news, Chairman Andrew B. Cogan sold 10,000 shares of Knoll stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $23.28, for a total transaction of $232,800.00. Following the sale, the chairman now directly owns 518,713 shares of the company’s stock, valued at $12,075,638.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew B. Cogan sold 4,305 shares of Knoll stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $25.00, for a total value of $107,625.00. Following the sale, the chief executive officer now directly owns 528,713 shares in the company, valued at $13,217,825. The disclosure for this sale can be found here. Insiders have sold 19,305 shares of company stock worth $464,625 over the last three months. Insiders own 1.60% of the company’s stock.
Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, and coverings for the workplace and residential markets in the United States, Canada, Europe, and internationally. The company operates through Office and Lifestyle segments.
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