BlackRock Inc. Makes New $213.05 Million Investment in MillerKnoll, Inc. $MLKN

Key Points

• BlackRock acquired 10.4 million MillerKnoll shares worth approximately $213.1 million, giving it a 15.29% stake in the company. Institutional investors and hedge funds collectively own 87.5% of MLKN.
• MillerKnoll reported quarterly EPS of $0.55, beating estimates by $0.03, while revenue reached approximately $1 billion—up 4.4% year over year. Analysts maintain a consensus “Hold” rating.
• The company declared a quarterly dividend of $0.1875 per share, equivalent to $0.75 annually and a 3.2% yield; its shares recently traded at $23.49.

BlackRock Inc. bought a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,413,184 shares of the company's stock, valued at approximately $213,054,000. BlackRock Inc. owned approximately 15.29% of MillerKnoll as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG acquired a new stake in shares of MillerKnoll in the second quarter valued at about $1,457,000. Bank of New York Mellon Corp acquired a new position in MillerKnoll during the second quarter worth about $8,519,000. State of Wyoming purchased a new position in MillerKnoll in the second quarter valued at about $386,000. Versant Capital Management Inc lifted its position in shares of MillerKnoll by 166.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,250 shares of the company's stock valued at $26,000 after acquiring an additional 781 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of MillerKnoll by 15.8% during the 1st quarter. Bank of America Corp DE now owns 836,007 shares of the company's stock valued at $12,089,000 after acquiring an additional 113,932 shares during the period. 87.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

MillerKnoll Stock Up 0.7%

MLKN stock opened at $23.49 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 0.90. The company's 50 day simple moving average is $21.76 and its 200-day simple moving average is $18.85. MillerKnoll, Inc. has a 12 month low of $13.77 and a 12 month high of $24.71. The firm has a market capitalization of $1.60 billion, a PE ratio of 17.80, a P/E/G ratio of 0.96 and a beta of 1.36.

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

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Saturday, August 29th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 28th. MillerKnoll's dividend payout ratio (DPR) is currently 56.82%.

About MillerKnoll

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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