Ellington Management Group LLC bought a new position in Knoll Inc (NYSE:KNL) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,300 shares of the business services provider’s stock, valued at approximately $537,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Stone Ridge Asset Management LLC purchased a new stake in shares of Knoll in the fourth quarter worth about $691,000. Deutsche Bank AG boosted its holdings in Knoll by 9.6% in the fourth quarter. Deutsche Bank AG now owns 276,625 shares of the business services provider’s stock valued at $6,372,000 after purchasing an additional 24,134 shares during the last quarter. Ranger Investment Management L.P. boosted its holdings in Knoll by 19.8% in the fourth quarter. Ranger Investment Management L.P. now owns 1,300,845 shares of the business services provider’s stock valued at $29,971,000 after purchasing an additional 215,290 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Knoll by 8.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,641,744 shares of the business services provider’s stock valued at $37,826,000 after purchasing an additional 130,050 shares during the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in Knoll in the fourth quarter valued at about $7,079,000. 92.38% of the stock is owned by institutional investors.
Shares of KNL opened at $20.80 on Friday. The stock has a market capitalization of $1,029.12, a P/E ratio of 15.07 and a beta of 1.01. Knoll Inc has a one year low of $16.57 and a one year high of $24.47. The company has a quick ratio of 0.60, a current ratio of 1.25 and a debt-to-equity ratio of 0.50.
Knoll (NYSE:KNL) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). Knoll had a net margin of 7.08% and a return on equity of 19.97%. The business had revenue of $316.10 million during the quarter, compared to analysts’ expectations of $302.07 million. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. research analysts anticipate that Knoll Inc will post 1.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, March 14th. Knoll’s dividend payout ratio is presently 43.48%.
In other Knoll news, EVP David L. Schutte sold 2,358 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $21.57, for a total transaction of $50,862.06. Following the transaction, the executive vice president now owns 58,735 shares of the company’s stock, valued at approximately $1,266,913.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded Knoll from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. ValuEngine downgraded Knoll from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Raymond James Financial raised Knoll from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $23.00 to $26.00 in a report on Tuesday, December 26th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Knoll currently has a consensus rating of “Buy” and a consensus price target of $26.00.
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Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, textiles, fine leathers, and felt for the workplace and residential markets in the United States, Canada, and Europe. The company operates through three segments: Office, Studio, and Coverings.
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