Douglas Lane & Associates LLC Has $8.14 Million Stake in MillerKnoll, Inc. $MLKN

Key Points

• Douglas Lane & Associates LLC increased its stake in MillerKnoll by 92.4%, holding 445,145 shares (~0.65% of the company) valued at about $8.14 million at quarter-end.
• Analyst sentiment is weak with a consensus rating of "Reduce" (1 Buy, 1 Hold, 2 Sell); shares trade near $15.38 with a high P/E of 109.9 and MillerKnoll recently missed quarterly EPS estimates.
• MillerKnoll declared a quarterly dividend of $0.1875 (annualized $0.75) implying a 4.9% yield, but the dividend payout ratio is an elevated 535.7%, raising sustainability questions.

Douglas Lane & Associates LLC boosted its position in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 92.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 445,145 shares of the company's stock after buying an additional 213,816 shares during the period. Douglas Lane & Associates LLC owned approximately 0.65% of MillerKnoll worth $8,137,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MLKN. SG Americas Securities LLC lifted its holdings in shares of MillerKnoll by 755.0% in the fourth quarter. SG Americas Securities LLC now owns 478,727 shares of the company's stock worth $8,751,000 after acquiring an additional 422,735 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of MillerKnoll by 7.1% in the third quarter. Alliancebernstein L.P. now owns 5,166,059 shares of the company's stock worth $91,646,000 after acquiring an additional 340,917 shares during the last quarter. Jane Street Group LLC lifted its holdings 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 acquiring an additional 313,684 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of MillerKnoll by 10.6% in the third quarter. Deprince Race & Zollo Inc. now owns 1,989,356 shares of the company's stock worth $35,291,000 after acquiring an additional 191,249 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of MillerKnoll by 30.4% in the third quarter. Russell Investments Group Ltd. now owns 626,212 shares of the company's stock worth $11,109,000 after acquiring an additional 145,988 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MLKN. Wall Street Zen cut shares of MillerKnoll from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. William Blair began coverage on shares of MillerKnoll in a report on Tuesday, February 10th. They issued an "outperform" rating for the company. Weiss Ratings reissued a "sell (d+)" rating on shares of MillerKnoll in a report on Monday, December 29th. Finally, Zacks Research cut shares of MillerKnoll from a "hold" rating to a "strong sell" rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce".

MillerKnoll Stock Up 0.9%

Shares of NASDAQ MLKN opened at $15.38 on Friday. The company has a 50 day simple moving average of $19.04 and a 200 day simple moving average of $17.78. The firm has a market cap of $1.05 billion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. MillerKnoll, Inc. has a 1 year low of $13.77 and a 1 year high of $23.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.92.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.02). The business had revenue of $926.60 million during the quarter, compared to the consensus estimate of $941.95 million. MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. On average, research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Saturday, February 28th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, February 27th. MillerKnoll's dividend payout ratio (DPR) is 535.71%.

MillerKnoll Company 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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