SG Americas Securities LLC decreased its position in MillerKnoll, Inc. (NASDAQ:MLKN – Free Report) by 73.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,592 shares of the company’s stock after selling 48,110 shares during the quarter. SG Americas Securities LLC’s holdings in MillerKnoll were worth $260,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Brandywine Global Investment Management LLC raised its stake in shares of MillerKnoll by 25.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 233,481 shares of the company’s stock valued at $4,775,000 after purchasing an additional 46,895 shares during the period. Advisory Services Network LLC raised its stake in shares of MillerKnoll by 68.4% in the 1st quarter. Advisory Services Network LLC now owns 6,156 shares of the company’s stock valued at $126,000 after purchasing an additional 2,500 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of MillerKnoll by 7.3% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 11,033 shares of the company’s stock valued at $226,000 after purchasing an additional 748 shares during the period. Front Street Capital Management Inc. raised its stake in shares of MillerKnoll by 21.4% in the 1st quarter. Front Street Capital Management Inc. now owns 664,994 shares of the company’s stock valued at $13,599,000 after purchasing an additional 117,192 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of MillerKnoll by 189.2% in the 1st quarter. Jane Street Group LLC now owns 15,158 shares of the company’s stock valued at $310,000 after purchasing an additional 32,158 shares during the period. Institutional investors and hedge funds own 88.66% of the company’s stock.
Analysts Set New Price Targets
MLKN has been the topic of several recent research reports. Craig Hallum lifted their price target on MillerKnoll from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday. StockNews.com raised MillerKnoll from a “hold” rating to a “buy” rating in a research report on Wednesday.
MillerKnoll Price Performance
NASDAQ:MLKN opened at $24.45 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.98 and a current ratio of 1.56. The stock’s 50-day simple moving average is $19.35 and its 200 day simple moving average is $17.60. The company has a market cap of $1.83 billion, a P/E ratio of 55.57, a P/E/G ratio of 0.94 and a beta of 1.44. MillerKnoll, Inc. has a 52-week low of $13.20 and a 52-week high of $25.30.
MillerKnoll (NASDAQ:MLKN – Get Free Report) last released its earnings results on Tuesday, September 26th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. The business had revenue of $917.70 million for the quarter, compared to the consensus estimate of $895.90 million. MillerKnoll had a return on equity of 9.41% and a net margin of 0.84%. MillerKnoll’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. As a group, sell-side analysts forecast that MillerKnoll, Inc. will post 2.07 EPS for the current fiscal year.
MillerKnoll Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 2nd will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, August 31st. MillerKnoll’s dividend payout ratio (DPR) is presently 170.45%.
Insiders Place Their Bets
In other MillerKnoll news, Director Michael A. Volkema purchased 13,584 shares of the stock in a transaction on Tuesday, July 18th. The shares were purchased at an average price of $16.95 per share, with a total value of $230,248.80. Following the completion of the transaction, the director now directly owns 200,670 shares in the company, valued at $3,401,356.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.69% of the company’s stock.
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.
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