Penn Capital Management Company LLC Boosts Stock Position in Kimball International, Inc. (NASDAQ:KBAL)

Penn Capital Management Company LLC increased its stake in Kimball International, Inc. (NASDAQ:KBAL – Get Rating) by 43.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 288,656 shares of the company’s stock after buying an additional 87,654 shares during the period. Penn Capital Management Company LLC owned 0.78% of Kimball International worth $2,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KBAL. Quantbot Technologies LP grew its stake in shares of Kimball International by 123.5% in the 2nd quarter. Quantbot Technologies LP now owns 3,800 shares of the company’s stock worth $29,000 after buying an additional 2,100 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Kimball International in the 1st quarter worth approximately $37,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Kimball International in the 2nd quarter worth approximately $77,000. Aigen Investment Management LP purchased a new stake in shares of Kimball International in the 2nd quarter worth approximately $95,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Kimball International in the 2nd quarter worth approximately $109,000. Hedge funds and other institutional investors own 65.59% of the company’s stock.

Analyst Upgrades and Downgrades

KBAL has been the topic of several recent research reports. StockNews.com upgraded Kimball International from a “hold” rating to a “buy” rating in a research note on Tuesday, November 8th. Benchmark began coverage on Kimball International in a report on Tuesday, November 29th. They issued a “buy” rating and a $80.00 target price for the company.

Kimball International Trading Down 0.9 %

Kimball International stock opened at $6.47 on Friday. The stock has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $7.57. Kimball International, Inc. has a 12 month low of $6.24 and a 12 month high of $10.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 0.72.

Kimball International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Tuesday, December 20th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Monday, December 19th. Kimball International’s payout ratio is -327.27%.

About Kimball International

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Kimball International, Inc engages in the manufacture and sale of furniture products under the Kimball, National, Etc., Interwoven, Kimball Hospitality, D'style, and Poppin brands in the United States and internationally. It offers desks/workstations, benching, seating, lounge, storage, tables, and casegoods for collaborative and open workspaces, conference and meeting/huddle rooms, training rooms, private offices, learning areas, classrooms, lobby/reception areas, and dining/café areas; and headboards, tables, seating, vanities, casegoods, lighting, and other products for hotel properties, and mixed use commercial and residential developments.