Ameriprise Financial Inc. Trims Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Ameriprise Financial Inc. lowered its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 293,851 shares of the company's stock after selling 66,521 shares during the period. Ameriprise Financial Inc. owned 0.43% of MillerKnoll worth $6,639,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in MillerKnoll by 198.0% in the fourth quarter. Russell Investments Group Ltd. now owns 433,884 shares of the company's stock valued at $9,801,000 after acquiring an additional 288,304 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of MillerKnoll by 39.9% during the fourth quarter. Wellington Management Group LLP now owns 804,105 shares of the company's stock valued at $18,165,000 after buying an additional 229,283 shares during the period. Vulcan Value Partners LLC increased its stake in shares of MillerKnoll by 12.8% during the fourth quarter. Vulcan Value Partners LLC now owns 1,252,093 shares of the company's stock valued at $28,285,000 after buying an additional 141,936 shares during the period. Dimensional Fund Advisors LP lifted its holdings in MillerKnoll by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,820,581 shares of the company's stock worth $86,306,000 after buying an additional 121,478 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in MillerKnoll in the fourth quarter worth about $2,370,000. Hedge funds and other institutional investors own 87.50% of the company's stock.

MillerKnoll Stock Performance

Shares of MLKN stock traded down $0.22 during mid-day trading on Wednesday, reaching $16.78. 14,518 shares of the company's stock traded hands, compared to its average volume of 595,093. The firm has a market capitalization of $1.14 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.89 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60. The firm has a 50 day moving average price of $17.09 and a two-hundred day moving average price of $20.71. MillerKnoll, Inc. has a 12 month low of $15.25 and a 12 month high of $31.73.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. The business had revenue of $876.20 million during the quarter, compared to the consensus estimate of $918.88 million. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The business's revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Sunday, June 1st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Friday, May 30th. MillerKnoll's payout ratio is currently 178.57%.

Analysts Set New Price Targets

MLKN has been the subject of several recent research reports. Wall Street Zen upgraded shares of MillerKnoll from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Sidoti upgraded shares of MillerKnoll to a "hold" rating in a research note on Tuesday, March 25th.

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.