Convergence Investment Partners LLC reduced its stake in Kimball International, Inc. (NASDAQ:KBAL) by 22.6% during the second quarter, Holdings Channel reports. The firm owned 76,324 shares of the company’s stock after selling 22,292 shares during the period. Convergence Investment Partners LLC’s holdings in Kimball International were worth $1,274,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Kimball International by 31.1% in the second quarter. Russell Investments Group Ltd. now owns 289,436 shares of the company’s stock worth $4,831,000 after buying an additional 68,672 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Kimball International during the second quarter worth approximately $204,000. Bowling Portfolio Management LLC raised its stake in shares of Kimball International by 76.6% in the second quarter. Bowling Portfolio Management LLC now owns 76,725 shares of the company’s stock worth $1,281,000 after buying an additional 33,288 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Kimball International during the second quarter worth approximately $119,000. Finally, Bessemer Group Inc. purchased a new stake in shares of Kimball International during the second quarter worth approximately $242,000. 61.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Kimball International, Inc. (NASDAQ KBAL) opened at 16.43 on Wednesday. The company has a 50-day moving average price of $16.61 and a 200-day moving average price of $16.93. Kimball International, Inc. has a 12 month low of $11.43 and a 12 month high of $18.94. The company has a market capitalization of $612.20 million, a price-to-earnings ratio of 16.60 and a beta of 1.54.
Kimball International (NASDAQ:KBAL) last posted its earnings results on Wednesday, August 2nd. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. The company had revenue of $171.98 million during the quarter. Kimball International had a net margin of 5.60% and a return on equity of 22.62%. On average, equities analysts anticipate that Kimball International, Inc. will post $0.69 EPS for the current year.
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Separately, BidaskClub lowered Kimball International from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st.
In other Kimball International news, President Winkle Donald W. Van sold 64,352 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $17.37, for a total value of $1,117,794.24. Following the completion of the sale, the president now directly owns 104,195 shares in the company, valued at $1,809,867.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert F. Schneider sold 31,790 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $16.05, for a total transaction of $510,229.50. Following the completion of the sale, the chief executive officer now owns 280,621 shares of the company’s stock, valued at $4,503,967.05. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
Kimball International Company Profile
Kimball International, Inc creates design driven furnishings. The Company sells a portfolio of furniture products and services under three brands, which include Kimball Office, National Office Furniture, and Kimball Hospitality. The Company’s portfolio offers solutions for the workplace, learning, healing, and hospitality environments.
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