Short Interest in Kimball International Inc (NASDAQ:KBAL) Rises By 50.8%
Kimball International Inc (NASDAQ:KBAL) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 241,500 shares, an increase of 50.8% from the May 30th total of 160,100 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 106,700 shares, the days-to-cover ratio is presently 2.3 days.
Separately, BidaskClub raised Zynga from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th.
KBAL stock traded down $0.26 during midday trading on Thursday, hitting $17.20. 63,400 shares of the company’s stock were exchanged, compared to its average volume of 114,389. The company’s 50-day simple moving average is $16.50. The stock has a market capitalization of $623.16 million, a PE ratio of 15.71 and a beta of 0.95. Kimball International has a 1-year low of $13.49 and a 1-year high of $18.14.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 25th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 24th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.86%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio grew its stake in shares of Kimball International by 2.3% in the first quarter. Strs Ohio now owns 44,800 shares of the company’s stock valued at $633,000 after buying an additional 1,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Kimball International by 2.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 41,367 shares of the company’s stock valued at $585,000 after buying an additional 1,100 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Kimball International by 21.4% in the fourth quarter. Legal & General Group Plc now owns 6,773 shares of the company’s stock valued at $97,000 after buying an additional 1,194 shares in the last quarter. James Investment Research Inc. grew its stake in shares of Kimball International by 4.6% in the first quarter. James Investment Research Inc. now owns 27,405 shares of the company’s stock valued at $388,000 after buying an additional 1,205 shares in the last quarter. Finally, Founders Capital Management acquired a new stake in shares of Kimball International in the first quarter valued at $28,000. 63.84% of the stock is owned by institutional investors and hedge funds.
Kimball International Company Profile
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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