Published On: Thu, Sep 15th, 2016

Knoll Inc. (KNL) Rating Lowered to Hold at Zacks Investment Research

Knoll Inc. (NYSE:KNL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Knoll Inc, a leading designer and manufacturer of branded office furniture products and textiles, serves clients worldwide. Their commitment to innovation and modern design has yielded a comprehensive portfolio of products designed to provide enduring value and help clients shape their workplaces with imagination and vision. “
Shares of Knoll (NYSE:KNL) traded down 1.42% on Wednesday, reaching $24.26. 157,230 shares of the company were exchanged. The stock has a market capitalization of $1.17 billion, a PE ratio of 16.97 and a beta of 1.11. Knoll has a 1-year low of $16.42 and a 1-year high of $26.76. The company has a 50-day moving average price of $25.59 and a 200 day moving average price of $23.61.

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Knoll (NYSE:KNL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $294.70 million for the quarter, compared to analyst estimates of $286.95 million. Knoll had a return on equity of 29.87% and a net margin of 6.08%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, analysts forecast that Knoll will post $1.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, September 13th. Knoll’s payout ratio is currently 41.38%.
In related news, Director Stephen F. Fisher sold 5,020 shares of Knoll stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $25.86, for a total transaction of $129,817.20. Following the transaction, the director now directly owns 42,594 shares of the company’s stock, valued at $1,101,480.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Benjamin A. Pardo sold 2,500 shares of Knoll stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $25.74, for a total value of $64,350.00. Following the transaction, the director now directly owns 24,425 shares in the company, valued at $628,699.50. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KNL. Copper Rock Capital Partners LLC purchased a new position in Knoll during the second quarter worth about $21,864,000. Adage Capital Partners GP L.L.C. raised its position in Knoll by 87.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,823,754 shares of the company’s stock worth $39,484,000 after buying an additional 850,000 shares during the last quarter. Ranger Investment Management L.P. raised its position in Knoll by 442.5% in the second quarter. Ranger Investment Management L.P. now owns 891,615 shares of the company’s stock worth $21,648,000 after buying an additional 727,253 shares during the last quarter. Numeric Investors LLC purchased a new position in Knoll during the second quarter worth about $11,641,000. Finally, Hillcrest Asset Management LLC purchased a new position in Knoll during the first quarter worth about $7,868,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
About Knoll
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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