PNC Financial Services Group Inc. Has $137,000 Position in Knoll Inc. (KNL)
PNC Financial Services Group Inc. lowered its position in shares of Knoll Inc. (NYSE:KNL) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,663 shares of the company’s stock after selling 1,212 shares during the period. PNC Financial Services Group Inc.’s holdings in Knoll were worth $137,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. New York State Teachers Retirement System acquired a new position in shares of Knoll during the second quarter worth $102,000. BlackRock Japan Co. Ltd increased its position in shares of 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 in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Knoll during the second quarter worth $203,000. Fox Run Management L.L.C. acquired a new position in shares of Knoll during the second quarter worth $206,000. Finally, AMP Capital Investors Ltd acquired a new position in shares of Knoll during the first quarter worth $290,000. 92.38% of the stock is owned by institutional investors and hedge funds.
Shares of Knoll Inc. (NYSE:KNL) traded down 2.80% during midday trading on Friday, hitting $21.55. 444,520 shares of the company traded hands. The company has a 50-day moving average price of $24.34 and a 200-day moving average price of $23.94. Knoll Inc. has a 52 week low of $16.42 and a 52 week high of $26.76. The stock has a market capitalization of $1.04 billion, a P/E ratio of 15.07 and a beta of 1.07.
Knoll (NYSE:KNL) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The company earned $294.70 million during the quarter, compared to analysts’ expectations of $286.95 million. Knoll had a net margin of 6.08% and a return on equity of 29.87%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. Analysts anticipate that Knoll Inc. will post $1.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.60 annualized dividend and a yield of 2.78%. Knoll’s dividend payout ratio (DPR) is 41.38%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Knoll from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Raymond James Financial Inc. downgraded shares of Knoll from an “outperform” rating to a “market perform” rating in a research report on Friday, September 30th.
In other Knoll news, Director Sarah E. Nash sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $25.26, for a total value of $631,500.00. Following the completion of the sale, the director now directly owns 57,805 shares of the company’s stock, valued at approximately $1,460,154.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Andrew B. Cogan sold 55,054 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $25.31, for a total transaction of $1,393,416.74. Following the completion of the sale, the insider now directly owns 530,212 shares of the company’s stock, valued at $13,419,665.72. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Knoll Company Profile
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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