Bank of New York Mellon Corp Purchases Shares of 416,387 MillerKnoll, Inc. $MLKN

Key Points

• Bank of New York Mellon purchased 416,387 MillerKnoll shares worth approximately $8.5 million, while institutional investors and hedge funds collectively own 87.5% of the company.
• MillerKnoll reported quarterly EPS of $0.55, exceeding estimates of $0.52, while revenue reached $1 billion and increased 4.4% year over year.
• Analysts maintain a consensus “Hold” rating. The company declared a quarterly dividend of $0.1875 per share, equivalent to an annualized $0.75 payout and a 3.4% yield.

Bank of New York Mellon Corp purchased a new stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 416,387 shares of the company's stock, valued at approximately $8,519,000. Bank of New York Mellon Corp owned approximately 0.61% of MillerKnoll at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada boosted its position in MillerKnoll by 39.4% during the 1st quarter. Royal Bank of Canada now owns 19,451 shares of the company's stock worth $373,000 after acquiring an additional 5,495 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MillerKnoll by 2.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company's stock valued at $775,000 after purchasing an additional 801 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of MillerKnoll by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,932 shares of the company's stock valued at $3,788,000 after purchasing an additional 13,099 shares during the last quarter. Jane Street Group LLC lifted its position in shares of MillerKnoll by 311.8% in the first quarter. Jane Street Group LLC now owns 414,275 shares of the company's stock worth $7,929,000 after purchasing an additional 313,684 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of MillerKnoll by 177.3% in the second quarter. Hsbc Holdings PLC now owns 28,704 shares of the company's stock worth $553,000 after purchasing an additional 18,354 shares in the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on MLKN. Zacks Research upgraded shares of MillerKnoll from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. Wall Street Zen lowered shares of MillerKnoll from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. Finally, Weiss Ratings raised shares of MillerKnoll from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold".

MillerKnoll Stock Up 1.6%

MLKN stock opened at $22.35 on Thursday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 0.91 and a beta of 1.36. MillerKnoll, Inc. has a twelve month low of $13.77 and a twelve month high of $24.71. The business has a 50 day moving average price of $22.25 and a two-hundred day moving average price of $18.86. The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.03. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $973.87 million. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The business's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. Analysts anticipate that MillerKnoll, Inc. will post 2.02 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Saturday, August 29th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, August 28th. MillerKnoll's payout ratio is presently 56.82%.

MillerKnoll Profile

MillerKnoll, Inc NASDAQ: MLKN is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.

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