Intech Investment Management LLC Raises Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Intech Investment Management LLC raised its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 289.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,473 shares of the company’s stock after acquiring an additional 46,413 shares during the quarter. Intech Investment Management LLC’s holdings in MillerKnoll were worth $1,547,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of 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 last quarter. Mather Group LLC. purchased a new stake in shares of MillerKnoll during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in shares of MillerKnoll by 35.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after buying an additional 426 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of MillerKnoll during the 2nd quarter worth approximately $85,000. Finally, Innealta Capital LLC purchased a new stake in shares of MillerKnoll during the 2nd quarter worth approximately $87,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.

Wall Street Analyst Weigh In

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

MillerKnoll Stock Up 4.1 %

Shares of NASDAQ:MLKN opened at $25.53 on Tuesday. The company has a market capitalization of $1.77 billion, a PE ratio of 29.34, a P/E/G ratio of 0.94 and a beta of 1.18. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99. MillerKnoll, Inc. has a twelve month low of $22.35 and a twelve month high of $31.73. The firm has a 50 day simple moving average of $24.35 and a 200-day simple moving average of $26.43.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results on Thursday, September 19th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $861.50 million during the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 earnings per share. On average, equities analysts predict that MillerKnoll, Inc. will post 2.17 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be issued 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 2.94%. MillerKnoll’s payout ratio is 86.21%.

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.