US Bancorp DE Decreases Position in Knoll, Inc. (KNL)
US Bancorp DE reduced its stake in shares of Knoll, Inc. (NYSE:KNL) by 9.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,356 shares of the business services provider’s stock after selling 3,721 shares during the period. US Bancorp DE’s holdings in Knoll were worth $709,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in KNL. MARSHALL WACE ASIA Ltd purchased a new position in shares of Knoll during the first quarter worth approximately $2,205,000. Macquarie Group Ltd. increased its position in shares of Knoll by 8.9% in the first quarter. Macquarie Group Ltd. now owns 1,343,071 shares of the business services provider’s stock worth $31,979,000 after buying an additional 109,211 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Knoll during the first quarter worth approximately $12,294,000. Swiss National Bank increased its position in shares of Knoll by 2.1% in the first quarter. Swiss National Bank now owns 81,200 shares of the business services provider’s stock worth $1,933,000 after buying an additional 1,700 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Knoll by 3.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 264,589 shares of the business services provider’s stock worth $6,300,000 after buying an additional 9,027 shares during the last quarter. Hedge funds and other institutional investors own 96.33% of the company’s stock.
Shares of Knoll, Inc. (NYSE KNL) traded up 1.16% during midday trading on Monday, reaching $18.35. 102,010 shares of the company were exchanged. The company has a market capitalization of $889.31 million, a PE ratio of 12.66 and a beta of 0.98. Knoll, Inc. has a 52-week low of $16.57 and a 52-week high of $28.40. The firm’s 50 day moving average is $19.33 and its 200-day moving average is $22.33.
Knoll (NYSE:KNL) last issued its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.08. Knoll had a net margin of 6.43% and a return on equity of 23.40%. The company had revenue of $268.70 million for the quarter, compared to the consensus estimate of $284.65 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Knoll’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities analysts forecast that Knoll, Inc. will post $1.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Thursday, September 14th. Knoll’s dividend payout ratio is currently 41.38%.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Knoll from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. ValuEngine cut shares of Knoll from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
In related news, Director Benjamin A. Pardo sold 2,200 shares of Knoll stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $19.45, for a total transaction of $42,790.00. Following the sale, the director now directly owns 23,773 shares in the company, valued at $462,384.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is owned by insiders.
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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