The Manufacturers Life Insurance Company Acquires 1,463 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

The Manufacturers Life Insurance Company boosted its holdings in MillerKnoll, Inc. (NASDAQ:MLKN) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,269 shares of the company’s stock after buying an additional 1,463 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of MillerKnoll worth $1,067,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Nordea Investment Management AB acquired a new position in shares of MillerKnoll in the 1st quarter worth approximately $2,933,000. Kingsview Wealth Management LLC grew its holdings in MillerKnoll by 173.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 163,572 shares of the company’s stock worth $4,050,000 after acquiring an additional 103,826 shares during the period. Hennessy Advisors Inc. raised its position in shares of MillerKnoll by 14.1% in the 1st quarter. Hennessy Advisors Inc. now owns 998,300 shares of the company’s stock worth $24,718,000 after acquiring an additional 123,400 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of MillerKnoll by 8.8% in the 1st quarter. William Blair Investment Management LLC now owns 954,391 shares of the company’s stock valued at $23,631,000 after purchasing an additional 76,994 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of MillerKnoll during the 1st quarter valued at about $7,311,000. Institutional investors own 87.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered MillerKnoll from a “buy” rating to a “hold” rating in a research note on Thursday.

MillerKnoll Price Performance

Shares of MLKN opened at $24.00 on Friday. The business’s fifty day moving average is $26.95 and its 200 day moving average is $26.86. MillerKnoll, Inc. has a 12-month low of $22.43 and a 12-month high of $31.73. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.72 billion, a P/E ratio of 21.62, a P/E/G ratio of 0.93 and a beta of 1.17.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Thursday, September 19th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The company had revenue of $861.50 million for the quarter, compared to the consensus estimate of $889.38 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts anticipate that MillerKnoll, Inc. will post 2.17 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Saturday, August 31st will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, August 30th. MillerKnoll’s dividend payout ratio is presently 67.57%.

MillerKnoll Profile

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.