Knoll Inc. (KNL) Shares Sold by Copper Rock Capital Partners LLC
Copper Rock Capital Partners LLC decreased its stake in shares of Knoll Inc. (NYSE:KNL) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 892,346 shares of the company’s stock after selling 8,160 shares during the period. Copper Rock Capital Partners LLC’s holdings in Knoll were worth $20,524,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its position in 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 valued at $39,484,000 after buying an additional 850,000 shares during the last quarter. Ranger Investment Management L.P. increased its position in Knoll by 442.5% in the second quarter. Ranger Investment Management L.P. now owns 891,615 shares of the company’s stock valued at $21,648,000 after buying an additional 727,253 shares during the last quarter. Numeric Investors LLC purchased a new position in Knoll during the second quarter valued at $11,641,000. Hillcrest Asset Management LLC purchased a new position in Knoll during the first quarter valued at $7,868,000. Finally, Vanguard Group Inc. increased its position in Knoll by 9.1% in the second quarter. Vanguard Group Inc. now owns 3,764,605 shares of the company’s stock valued at $91,405,000 after buying an additional 312,445 shares during the last quarter. 92.38% of the stock is owned by hedge funds and other institutional investors.
Knoll Inc. (NYSE:KNL) opened at 22.17 on Friday. The company has a market cap of $1.07 billion, a P/E ratio of 15.50 and a beta of 1.07. Knoll Inc. has a 52 week low of $16.42 and a 52 week high of $26.76. The firm has a 50-day moving average price of $24.45 and a 200 day moving average price of $23.93.
Knoll (NYSE:KNL) last released 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 return on equity of 29.87% and a net margin of 6.08%. The business had revenue of $294.70 million for the quarter, compared to the consensus estimate of $286.95 million. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts expect that Knoll Inc. will post $1.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Tuesday, September 13th. Knoll’s dividend payout ratio is currently 41.38%.
KNL has been the subject of several research reports. Zacks Investment Research upgraded 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. Raymond James Financial Inc. downgraded Knoll from an “outperform” rating to a “market perform” rating in a research note on Friday, September 30th.
In other news, Director Stephen F. Fisher sold 5,020 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $25.86, for a total value of $129,817.20. Following the completion of the transaction, the director now owns 42,594 shares in the company, valued at $1,101,480.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin A. Pardo sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $25.74, for a total value of $64,350.00. Following the completion of the transaction, the director now owns 24,425 shares of the company’s stock, valued at approximately $628,699.50. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
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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