Ieq Capital LLC bought a new stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN – Free Report) during the second quarter, Holdings Channel reports. The fund bought 24,860 shares of the company’s stock, valued at approximately $509,000.
Several other hedge funds have also recently modified their holdings of MLKN. BlackRock Inc. bought a new position in MillerKnoll in the second quarter worth approximately $213,054,000. Vanguard Group Inc. raised its position in shares of MillerKnoll by 7.9% in the 4th quarter. Vanguard Group Inc. now owns 8,550,194 shares of the company’s stock worth $156,298,000 after acquiring an additional 623,035 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of MillerKnoll by 7.1% during the 3rd quarter. Alliancebernstein L.P. now owns 5,166,059 shares of the company’s stock worth $91,646,000 after purchasing an additional 340,917 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MillerKnoll by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,610,776 shares of the company’s stock valued at $52,211,000 after purchasing an additional 103,372 shares in the last quarter. Finally, Pzena Investment Management LLC bought a new stake in MillerKnoll during the second quarter valued at about $62,049,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Wall Street Zen lowered shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Weiss Ratings upgraded shares of MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research raised shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.
MillerKnoll Stock Down 1.5%
Shares of MLKN stock opened at $23.13 on Friday. The stock’s fifty day moving average price is $21.89 and its 200 day moving average price is $18.88. MillerKnoll, Inc. has a 1-year low of $13.77 and a 1-year high of $24.71. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.97 and a beta of 1.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 0.90.
MillerKnoll (NASDAQ:MLKN – Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $973.87 million. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. On average, research analysts expect that MillerKnoll, Inc. will post 2.02 earnings per share for the current fiscal year.
MillerKnoll Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Saturday, August 29th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 28th. MillerKnoll’s dividend payout ratio (DPR) is presently 56.82%.
About MillerKnoll
MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.
Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.
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