Nationwide Fund Advisors raised its position in shares of Knight Transportation Inc. (NYSE:KNX) by 25.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 80,667 shares of the company’s stock after buying an additional 16,455 shares during the period. Nationwide Fund Advisors owned about 0.10% of Knight Transportation worth $2,144,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KNX. Bank of Montreal Can acquired a new position in Knight Transportation during the second quarter worth about $107,000. BlackRock Inc. boosted its position in Knight Transportation by 125.3% in the first quarter. BlackRock Inc. now owns 4,206 shares of the company’s stock worth $109,000 after buying an additional 2,339 shares in the last quarter. Creative Planning boosted its position in Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock worth $146,000 after buying an additional 2,000 shares in the last quarter. Huntington National Bank boosted its position in Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock worth $180,000 after buying an additional 471 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in Knight Transportation by 0.7% in the second quarter. Capstone Asset Management Co. now owns 18,117 shares of the company’s stock worth $482,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Shares of Knight Transportation Inc. (NYSE:KNX) traded down 2.728% on Thursday, reaching $27.635. The company’s stock had a trading volume of 300,004 shares. Knight Transportation Inc. has a 52-week low of $20.56 and a 52-week high of $30.38. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 21.079 and a beta of 0.83. The stock has a 50-day moving average of $28.58 and a 200 day moving average of $27.35.
Knight Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The company earned $276.30 million during the quarter, compared to analyst estimates of $283.13 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. Knight Transportation’s revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Knight Transportation Inc. will post $1.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.84%. The ex-dividend date was Wednesday, August 31st. Knight Transportation’s dividend payout ratio is presently 18.18%.
KNX has been the topic of a number of recent analyst reports. Barclays PLC lifted their target price on Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, September 12th. BB&T Corp. reiterated a “hold” rating on shares of Knight Transportation in a research report on Friday, July 1st. Zacks Investment Research upgraded Knight Transportation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Deutsche Bank AG boosted their price target on Knight Transportation from $27.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Finally, Macquarie cut Knight Transportation from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $27.00 in a report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.06.
In other news, insider Kevin P. Knight sold 500,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $29.44, for a total value of $14,720,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Wayne Yu sold 3,200 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $29.59, for a total value of $94,688.00. Following the completion of the transaction, the vice president now owns 8,279 shares in the company, valued at $244,975.61. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.
Knight Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. The Company operates primarily in the United States with minor operations in Canada and Mexico.