Bridgewater Associates LP Sells 3,891 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Bridgewater Associates LP trimmed its position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 26.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,706 shares of the company’s stock after selling 3,891 shares during the quarter. Bridgewater Associates LP’s holdings in MillerKnoll were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MLKN. Pacer Advisors Inc. boosted its stake in MillerKnoll by 15.3% during the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock valued at $106,370,000 after purchasing an additional 532,427 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MillerKnoll by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after buying an additional 377,121 shares during the last quarter. Hennessy Advisors Inc. increased its holdings in MillerKnoll by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock worth $31,226,000 after buying an additional 180,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in MillerKnoll in the 2nd quarter worth about $2,633,000. Finally, State of New Jersey Common Pension Fund D bought a new position in MillerKnoll during the 2nd quarter valued at about $1,901,000. Institutional investors own 87.50% of the company’s stock.

MillerKnoll Stock Down 1.7 %

MLKN stock opened at $25.44 on Wednesday. The business’s 50-day moving average is $24.27 and its two-hundred day moving average is $26.31. MillerKnoll, Inc. has a fifty-two week low of $22.35 and a fifty-two week high of $31.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 0.99 and a beta of 1.20.

MillerKnoll (NASDAQ:MLKN) last released its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). The company had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. MillerKnoll’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. As a group, analysts forecast that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.95%. MillerKnoll’s dividend payout ratio (DPR) is presently 86.21%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a report on Thursday, October 10th.

About MillerKnoll

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.