Fmr LLC Increases Stock Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

Fmr LLC boosted its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 939.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 38,784 shares of the company’s stock after buying an additional 35,054 shares during the quarter. Fmr LLC’s holdings in MillerKnoll were worth $960,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MLKN. Hennion & Walsh Asset Management Inc. bought a new position in shares of MillerKnoll during the second quarter valued at about $281,000. Hennessy Advisors Inc. boosted its stake in shares of 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 during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of MillerKnoll by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 44,779 shares of the company’s stock valued at $1,186,000 after acquiring an additional 580 shares in the last quarter. Bailard Inc. purchased a new stake in shares of MillerKnoll during the second quarter valued at approximately $207,000. Finally, Innealta Capital LLC bought a new stake in MillerKnoll during the second quarter worth $87,000. 87.50% of the stock is currently owned by institutional investors.

MillerKnoll Stock Performance

NASDAQ MLKN opened at $25.37 on Tuesday. The company has a market capitalization of $1.75 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. MillerKnoll, Inc. has a 52-week low of $22.35 and a 52-week high of $31.73. The company has a 50-day simple moving average of $24.40 and a 200 day simple moving average of $26.22.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $889.38 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts predict that MillerKnoll, Inc. will post 2.17 EPS for the current year.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Saturday, November 30th will be paid a $0.1875 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.75 annualized dividend and a dividend yield of 2.96%. MillerKnoll’s payout ratio is presently 86.21%.

Analyst Ratings Changes

Separately, StockNews.com downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

MillerKnoll Company 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.