MillerKnoll, Inc. (NASDAQ:MLKN) Stake Lowered by Front Street Capital Management Inc.

Front Street Capital Management Inc. lessened its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 676,915 shares of the company’s stock after selling 7,553 shares during the quarter. MillerKnoll makes up approximately 3.4% of Front Street Capital Management Inc.’s portfolio, making the stock its 9th largest holding. Front Street Capital Management Inc.’s holdings in MillerKnoll were worth $17,931,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MLKN. Quadrant Capital Group LLC boosted its holdings in MillerKnoll by 46.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,537 shares of the company’s stock valued at $41,000 after acquiring an additional 488 shares during the period. Norges Bank acquired a new stake in MillerKnoll in the 4th quarter valued at approximately $13,111,000. PNC Financial Services Group Inc. increased its position in MillerKnoll by 387.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,119 shares of the company’s stock worth $403,000 after buying an additional 12,015 shares during the period. Franklin Resources Inc. increased its position in MillerKnoll by 67.8% in the 4th quarter. Franklin Resources Inc. now owns 33,621 shares of the company’s stock worth $897,000 after buying an additional 13,586 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in shares of MillerKnoll by 23.3% during the fourth quarter. Advisory Services Network LLC now owns 12,772 shares of the company’s stock worth $341,000 after buying an additional 2,416 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors.

MillerKnoll Stock Up 3.3 %

Shares of NASDAQ MLKN opened at $24.28 on Tuesday. The business has a fifty day moving average of $28.38 and a two-hundred day moving average of $27.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.92 and a current ratio of 1.53. MillerKnoll, Inc. has a 52-week low of $19.10 and a 52-week high of $31.73. The stock has a market cap of $1.74 billion, a PE ratio of 21.87, a PEG ratio of 0.99 and a beta of 1.18.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $861.50 million for the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a net margin of 2.27% and a return on equity of 10.94%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, equities research analysts expect that MillerKnoll, Inc. will post 2.21 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Saturday, August 31st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.75 dividend on an annualized basis and a yield of 3.09%. MillerKnoll’s payout ratio is presently 67.57%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of MillerKnoll from a “strong-buy” rating to a “buy” rating in a report on Monday.

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.