Connor Clark & Lunn Investment Management Ltd. Invests $958,000 in MillerKnoll, Inc. $MLKN

Key Points

• Connor Clark & Lunn acquired 46,847 MillerKnoll shares worth approximately $958,000, while institutional investors collectively held 87.5% of the company. BlackRock and Pzena Investment Management also established significant new positions.
• MillerKnoll reported quarterly EPS of $0.55, exceeding estimates of $0.52, while revenue rose 4.4% year over year to $1 billion. Shares opened at $23.13, near their 12-month high of $24.71.
• The company declared a quarterly dividend of $0.1875, equivalent to an annualized $0.75 payout and a 3.2% yield. Analysts maintain a consensus “Hold” rating, with one Buy and two Hold ratings.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 46,847 shares of the company's stock, valued at approximately $958,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of MillerKnoll at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of MillerKnoll during the 2nd quarter worth approximately $213,054,000. Renaissance Technologies LLC bought a new position in shares of MillerKnoll in the first quarter valued at $2,692,000. Hsbc Holdings PLC grew its stake in shares of MillerKnoll by 240.9% in the fourth quarter. Hsbc Holdings PLC now owns 80,559 shares of the company's stock valued at $1,488,000 after buying an additional 56,927 shares in the last quarter. Pzena Investment Management LLC acquired a new position in MillerKnoll during the second quarter worth $62,049,000. Finally, Bank of America Corp DE increased its holdings in MillerKnoll by 15.8% during the first quarter. Bank of America Corp DE now owns 836,007 shares of the company's stock worth $12,089,000 after buying an additional 113,932 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company's stock.

MillerKnoll Stock Performance

Shares of NASDAQ MLKN opened at $23.13 on Monday. The company has a current ratio of 1.58, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. MillerKnoll, Inc. has a 12 month low of $13.77 and a 12 month high of $24.71. The stock has a 50 day moving average of $21.89 and a 200-day moving average of $18.86. The company has a market capitalization of $1.58 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.95 and a beta of 1.36.

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

MillerKnoll Announces Dividend

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

Analyst Upgrades and Downgrades

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

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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