New York State Common Retirement Fund raised its position in Knoll, Inc. (NYSE:KNL) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,222 shares of the business services provider’s stock after purchasing an additional 11,422 shares during the period. New York State Common Retirement Fund owned about 0.13% of Knoll worth $1,284,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in KNL. FMR LLC lifted its holdings in Knoll by 28.1% in the 2nd quarter. FMR LLC now owns 4,036,259 shares of the business services provider’s stock valued at $80,927,000 after purchasing an additional 884,982 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Knoll by 121.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,406,649 shares of the business services provider’s stock valued at $28,203,000 after purchasing an additional 770,256 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Knoll by 36.8% in the 2nd quarter. Voya Investment Management LLC now owns 1,382,277 shares of the business services provider’s stock valued at $27,714,000 after purchasing an additional 372,058 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Knoll by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,846,492 shares of the business services provider’s stock valued at $37,022,000 after acquiring an additional 81,825 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Knoll by 131.0% during the 2nd quarter. Citadel Advisors LLC now owns 127,310 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 72,197 shares during the last quarter. Institutional investors own 90.57% of the company’s stock.
A number of research firms have recently commented on KNL. Zacks Investment Research downgraded shares of Knoll from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet downgraded shares of Knoll from a “b-” rating to a “c+” rating in a research note on Thursday, September 7th. Finally, Raymond James Financial raised shares of Knoll from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $23.00 to $26.00 in a research note on Tuesday, December 26th. Two 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 company’s stock. Knoll presently has an average rating of “Buy” and an average price target of $26.33.
Knoll (NYSE:KNL) last posted its quarterly earnings data on Monday, October 23rd. The business services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. Knoll had a net margin of 6.21% and a return on equity of 21.94%. The company had revenue of $291.26 million during the quarter, compared to the consensus estimate of $277.40 million. During the same quarter in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. sell-side analysts forecast that Knoll, Inc. will post 1.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, December 14th. Knoll’s dividend payout ratio is currently 42.86%.
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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