Mason Street Advisors LLC Takes Position in Knight Transportation Inc. (KNX)
Mason Street Advisors LLC purchased a new position in Knight Transportation Inc. (NYSE:KNX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,917 shares of the company’s stock, valued at approximately $317,000.
Other large investors also recently bought and sold shares of the company. Profund Advisors LLC boosted its stake in shares of Knight Transportation by 0.5% in the second quarter. Profund Advisors LLC now owns 13,992 shares of the company’s stock worth $372,000 after buying an additional 72 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of Knight Transportation by 0.7% in the second quarter. Capstone Asset Management Co. now owns 18,117 shares of the company’s stock worth $482,000 after buying an additional 120 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Knight Transportation by 0.6% in the second quarter. Arizona State Retirement System now owns 31,610 shares of the company’s stock worth $840,000 after buying an additional 200 shares during the last quarter. PineBridge Investments L.P. boosted its stake in shares of Knight Transportation by 3.2% in the second quarter. PineBridge Investments L.P. now owns 7,731 shares of the company’s stock worth $205,000 after buying an additional 241 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock worth $180,000 after buying an additional 471 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.
Shares of Knight Transportation Inc. (NYSE:KNX) opened at 28.37 on Friday. The firm’s 50-day moving average is $28.61 and its 200 day moving average is $27.30. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 21.64 and a beta of 0.83. Knight Transportation Inc. has a 52-week low of $20.56 and a 52-week high of $30.38.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $276.30 million for the quarter, compared to the consensus estimate of $283.13 million. Knight Transportation had a net margin of 9.37% and a return on equity of 14.55%. The company’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. Equities analysts expect that Knight Transportation Inc. will post $1.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.24 annualized dividend and a dividend yield of 0.85%. Knight Transportation’s payout ratio is 18.18%.
A number of brokerages have issued reports on KNX. Zacks Investment Research cut shares of Knight Transportation from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup Inc. boosted their target price on shares of Knight Transportation from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, September 16th. Barclays PLC boosted their target price on shares of Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, September 12th. Deutsche Bank AG boosted their target price on shares of Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a report on Friday, July 29th. Finally, Macquarie cut shares of Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $27.00 in a report on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. Knight Transportation has a consensus rating of “Hold” and an average target price of $29.42.
In other Knight Transportation news, insider Kevin P. Knight sold 500,000 shares of Knight Transportation stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $29.44, for a total value of $14,720,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Wayne Yu sold 3,200 shares of Knight Transportation stock in a transaction on Friday, August 5th. The shares were sold at an average price of $29.59, for a total transaction of $94,688.00. Following the completion of the sale, the vice president now owns 8,279 shares in the company, valued at $244,975.61. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.
Knight Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. The Company operates primarily in the United States with minor operations in Canada and Mexico.
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