Nisa Investment Advisors LLC Raises Position in Knoll Inc (NYSE:KNL)

Nisa Investment Advisors LLC grew its stake in Knoll Inc (NYSE:KNL) by 41.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the business services provider’s stock after purchasing an additional 8,500 shares during the period. Nisa Investment Advisors LLC owned about 0.06% of Knoll worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Knoll by 9.9% in the third quarter. Bank of New York Mellon Corp now owns 1,415,849 shares of the business services provider’s stock valued at $33,202,000 after buying an additional 127,562 shares in the last quarter. BlackRock Inc. raised its stake in Knoll by 1.0% in the third quarter. BlackRock Inc. now owns 3,244,796 shares of the business services provider’s stock valued at $76,093,000 after buying an additional 31,023 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Knoll by 28.4% in the third quarter. JPMorgan Chase & Co. now owns 131,411 shares of the business services provider’s stock valued at $3,082,000 after buying an additional 29,097 shares in the last quarter. Renaissance Technologies LLC raised its stake in Knoll by 4.1% in the third quarter. Renaissance Technologies LLC now owns 232,900 shares of the business services provider’s stock valued at $5,462,000 after buying an additional 9,200 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its stake in Knoll by 55.0% in the third quarter. MetLife Investment Advisors LLC now owns 36,853 shares of the business services provider’s stock valued at $864,000 after buying an additional 13,072 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Shares of KNL traded down $0.24 during midday trading on Wednesday, reaching $20.92. 125,800 shares of the stock were exchanged, compared to its average volume of 264,111. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.59 and a current ratio of 1.18. Knoll Inc has a twelve month low of $15.72 and a twelve month high of $24.29. The stock has a market capitalization of $1.04 billion, a P/E ratio of 11.31 and a beta of 1.34.

Knoll (NYSE:KNL) last posted its earnings results on Thursday, April 25th. The business services provider reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. Knoll had a return on equity of 24.17% and a net margin of 5.67%. The business had revenue of $332.80 million for the quarter, compared to analysts’ expectations of $312.20 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Knoll Inc will post 2.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.25%. This is a boost from Knoll’s previous quarterly dividend of $0.15. Knoll’s payout ratio is 32.43%.

In related news, EVP David L. Schutte sold 3,500 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $21.61, for a total transaction of $75,635.00. Following the transaction, the executive vice president now owns 63,424 shares of the company’s stock, valued at $1,370,592.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Andrew B. Cogan sold 10,226 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $21.15, for a total value of $216,279.90. Following the transaction, the chairman now directly owns 535,792 shares in the company, valued at approximately $11,332,000.80. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

KNL has been the topic of a number of analyst reports. Zacks Investment Research cut Knoll from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. ValuEngine upgraded Knoll from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Finally, TheStreet upgraded Knoll from a “c+” rating to a “b” rating in a research report on Friday, February 15th.

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About Knoll

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.

Further Reading: Average Daily Trade Volume – What You Need to Know

Institutional Ownership by Quarter for Knoll (NYSE:KNL)

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