Kimball International (KBAL) Downgraded to “Sell” at BidaskClub

BidaskClub lowered shares of Kimball International (NASDAQ:KBAL) from a hold rating to a sell rating in a research report released on Thursday morning.

Separately, ValuEngine cut shares of Kimball International from a hold rating to a sell rating in a report on Tuesday, October 2nd.

Shares of NASDAQ:KBAL traded down $0.08 during trading hours on Thursday, hitting $15.99. 87,800 shares of the company’s stock traded hands, compared to its average volume of 94,052. Kimball International has a 52 week low of $15.66 and a 52 week high of $20.17. The firm has a market cap of $596.06 million, a price-to-earnings ratio of 15.13 and a beta of 1.29.

Kimball International (NASDAQ:KBAL) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.31 earnings per share for the quarter. Kimball International had a net margin of 4.84% and a return on equity of 20.75%. The company had revenue of $194.12 million during the quarter.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 21st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, December 20th.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its holdings in shares of Kimball International by 127.9% in the second quarter. Meeder Asset Management Inc. now owns 6,761 shares of the company’s stock worth $109,000 after buying an additional 3,794 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Kimball International by 8.7% in the third quarter. Chicago Partners Investment Group LLC now owns 54,557 shares of the company’s stock worth $867,000 after buying an additional 4,375 shares during the period. Ramsey Quantitative Systems boosted its holdings in shares of Kimball International by 96.8% in the second quarter. Ramsey Quantitative Systems now owns 13,019 shares of the company’s stock worth $210,000 after buying an additional 6,405 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Kimball International by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 210,257 shares of the company’s stock worth $3,522,000 after buying an additional 6,767 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Kimball International by 34.0% in the third quarter. First Trust Advisors LP now owns 55,942 shares of the company’s stock worth $937,000 after buying an additional 14,203 shares during the period. Institutional investors own 63.08% of the company’s stock.

About Kimball International

Kimball International, Inc designs, manufactures, and sells furniture products under the Kimball, National, and Kimball Hospitality brands in the United States and internationally. The company offers office furniture, including desks, tables, seating, bookcases, and filing and storage units for federal, state, and local government offices, as well as other government related entities; and furniture solutions, such as headboards, tables, seating, vanities, casegoods, lighting, and other products for hotel properties, and commercial and residential mixed use developments.

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