JPMorgan Chase & Co. Sells 70,836 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

JPMorgan Chase & Co. lowered its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 14.9% during the third quarter, HoldingsChannel reports. The firm owned 403,063 shares of the company’s stock after selling 70,836 shares during the quarter. JPMorgan Chase & Co.’s holdings in MillerKnoll were worth $9,980,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MLKN. EverSource Wealth Advisors LLC raised its holdings in MillerKnoll by 254.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock worth $32,000 after buying an additional 862 shares during the period. GAMMA Investing LLC increased its position in shares of MillerKnoll by 35.0% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of MillerKnoll during the third quarter worth $84,000. DekaBank Deutsche Girozentrale raised its holdings in shares of MillerKnoll by 99.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock worth $112,000 after acquiring an additional 2,316 shares during the period. Finally, Verition Fund Management LLC bought a new stake in MillerKnoll in the 3rd quarter valued at $210,000. Institutional investors own 87.50% of the company’s stock.

MillerKnoll Stock Down 2.1 %

NASDAQ:MLKN opened at $21.42 on Monday. The stock has a 50-day simple moving average of $23.85 and a 200 day simple moving average of $25.75. MillerKnoll, Inc. has a 52-week low of $20.89 and a 52-week high of $31.73. The company has a market cap of $1.46 billion, a PE ratio of 24.62, a PEG ratio of 0.96 and a beta of 1.23. 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 (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. The company had revenue of $970.40 million during the quarter, compared to analysts’ expectations of $959.60 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. On average, sell-side analysts expect that MillerKnoll, Inc. will post 2.17 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The firm also recently declared 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 yield of 3.50%. MillerKnoll’s payout ratio is currently 82.42%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut MillerKnoll from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

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.