TIAA CREF Investment Management LLC cut its position in Knoll, Inc. (NYSE:KNL) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 242,006 shares of the business services provider’s stock after selling 8,692 shares during the period. TIAA CREF Investment Management LLC owned about 0.50% of Knoll worth $5,762,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Knoll during the fourth quarter worth approximately $24,831,000. Investment Counselors of Maryland LLC bought a new position in Knoll during the first quarter worth approximately $18,759,000. FMR LLC boosted its position in Knoll by 24.1% in the first quarter. FMR LLC now owns 3,151,277 shares of the business services provider’s stock worth $75,032,000 after buying an additional 612,882 shares in the last quarter. Alliancebernstein L.P. boosted its position in Knoll by 745.6% in the first quarter. Alliancebernstein L.P. now owns 636,393 shares of the business services provider’s stock worth $15,153,000 after buying an additional 561,133 shares in the last quarter. Finally, RidgeWorth Capital Management LLC boosted its position in Knoll by 42.8% in the first quarter. RidgeWorth Capital Management LLC now owns 1,792,727 shares of the business services provider’s stock worth $42,685,000 after buying an additional 536,905 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.
Knoll, Inc. (NYSE KNL) opened at 19.59 on Tuesday. The firm has a 50-day moving average of $21.57 and a 200-day moving average of $24.04. The stock has a market cap of $949.47 million, a PE ratio of 12.03 and a beta of 1.00. Knoll, Inc. has a 1-year low of $19.25 and a 1-year high of $28.40.
Knoll (NYSE:KNL) last released its quarterly earnings data on Monday, April 24th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $256.80 million for the quarter, compared to analysts’ expectations of $252.95 million. Knoll had a net margin of 7.02% and a return on equity of 26.34%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Analysts expect that Knoll, Inc. will post $1.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Tuesday, June 13th. Knoll’s payout ratio is currently 36.81%.
KNL has been the subject of a number of research reports. Zacks Investment Research raised shares of Knoll from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. ValuEngine cut shares of Knoll from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
In other news, insider Andrew B. Cogan sold 17,000 shares of Knoll stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $23.19, for a total transaction of $394,230.00. Following the sale, the insider now owns 595,698 shares in the company, valued at $13,814,236.62. 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.
Knoll Company Profile
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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