Westwood Holdings Group Inc. Has $32.46 Million Stake in Knoll Inc (NYSE:KNL)

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Westwood Holdings Group Inc. decreased its stake in Knoll Inc (NYSE:KNL) by 16.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,412,563 shares of the business services provider’s stock after selling 272,346 shares during the quarter. Westwood Holdings Group Inc. owned approximately 2.84% of Knoll worth $32,461,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in Knoll by 121.3% in the second quarter. AQR Capital Management LLC now owns 105,113 shares of the business services provider’s stock valued at $2,415,000 after acquiring an additional 57,620 shares during the period. Man Group plc acquired a new position in Knoll in the second quarter valued at about $244,000. Bank of America Corp DE grew its stake in Knoll by 10.1% in the second quarter. Bank of America Corp DE now owns 294,074 shares of the business services provider’s stock valued at $6,759,000 after acquiring an additional 27,067 shares during the period. Balyasny Asset Management LLC acquired a new position in Knoll in the second quarter valued at about $313,000. Finally, Algert Global LLC grew its stake in Knoll by 4.6% in the second quarter. Algert Global LLC now owns 37,300 shares of the business services provider’s stock valued at $857,000 after acquiring an additional 1,654 shares during the period. 90.61% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Knoll from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, July 30th.

Shares of KNL stock traded up $0.36 on Friday, hitting $25.50. 4,278 shares of the stock were exchanged, compared to its average volume of 173,403. The company has a current ratio of 1.15, a quick ratio of 0.53 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $1.26 billion, a P/E ratio of 13.73 and a beta of 1.44. The business has a 50-day moving average of $23.43 and a 200 day moving average of $21.70. Knoll Inc has a fifty-two week low of $15.72 and a fifty-two week high of $25.89.

Knoll (NYSE:KNL) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.44 by $0.04. The firm had revenue of $367.30 million during the quarter, compared to analysts’ expectations of $339.13 million. Knoll had a return on equity of 24.27% and a net margin of 6.11%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, research analysts forecast that Knoll Inc will post 2.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 2.67%. Knoll’s dividend payout ratio is 36.76%.

In other Knoll news, Chairman Andrew B. Cogan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $23.28, for a total value of $232,800.00. Following the sale, the chairman now owns 518,713 shares in the company, valued at $12,075,638.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew B. Cogan sold 4,305 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $25.00, for a total value of $107,625.00. Following the completion of the sale, the chief executive officer now owns 528,713 shares in the company, valued at approximately $13,217,825. The disclosure for this sale can be found here. Insiders sold 19,305 shares of company stock worth $464,625 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Knoll Company Profile

Knoll, Inc, together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, and coverings for the workplace and residential markets in the United States, Canada, Europe, and internationally. The company operates through Office and Lifestyle segments.

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Institutional Ownership by Quarter for Knoll (NYSE:KNL)

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