Douglas Lane & Associates LLC Sells 135,771 Shares of MillerKnoll, Inc. $MLKN

Key Points

• Douglas Lane & Associates cut its MillerKnoll stake by 31.8% in the third quarter, selling 135,771 shares and retaining 291,377 shares valued at approximately $5.7 million. Institutional investors and hedge funds collectively own 87.5% of the company.
• MillerKnoll reported quarterly EPS of $0.53, beating estimates of $0.35, although revenue of $923.4 million fell short of forecasts and declined 3.4% year over year. Analysts maintain a “Moderate Buy” consensus, with one firm recently upgrading the stock to “Strong Buy.”
• The company declared a quarterly dividend of $0.1875 per share, equivalent to $0.75 annually and a 3.6% yield, while MLKN shares recently traded at $20.85.

Douglas Lane & Associates LLC lessened its position in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 31.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,377 shares of the company's stock after selling 135,771 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.42% of MillerKnoll worth $5,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MLKN. Versant Capital Management Inc boosted its stake in shares of MillerKnoll by 166.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,250 shares of the company's stock valued at $26,000 after purchasing an additional 781 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in MillerKnoll by 3.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 36,567 shares of the company's stock worth $529,000 after acquiring an additional 1,241 shares during the last quarter. Nykredit A S acquired a new stake in MillerKnoll in the 2nd quarter valued at about $28,000. Quantbot Technologies LP bought a new position in shares of MillerKnoll in the second quarter worth about $29,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of MillerKnoll by 7.0% during the first quarter. PNC Financial Services Group Inc. now owns 22,170 shares of the company's stock worth $321,000 after purchasing an additional 1,455 shares in the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MLKN. Weiss Ratings upgraded shares of MillerKnoll from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Wall Street Zen cut MillerKnoll from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. Finally, Benchmark raised shares of MillerKnoll from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

MillerKnoll Trading Up 0.4%

Shares of MLKN stock traded up $0.08 on Friday, hitting $20.85. The stock had a trading volume of 83,493 shares, compared to its average volume of 738,154. The company has a current ratio of 1.65, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. MillerKnoll, Inc. has a twelve month low of $13.77 and a twelve month high of $24.71. The company has a fifty day moving average price of $22.09 and a two-hundred day moving average price of $19.00. The firm has a market cap of $1.43 billion, a P/E ratio of 14.79, a PEG ratio of 0.85 and a beta of 1.36.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its quarterly earnings data on Tuesday, September 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.18. The company had revenue of $923.40 million during the quarter, compared to the consensus estimate of $940.93 million. MillerKnoll had a net margin of 2.57% and a return on equity of 10.10%. The firm's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 earnings per share. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q2 2027 guidance at 0.430-0.490 EPS. As a group, analysts forecast that MillerKnoll, Inc. will post 2.02 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.6%. MillerKnoll's dividend payout ratio is currently 53.19%.

MillerKnoll Company Profile

MillerKnoll, Inc is a global design company that develops furnishings and related products for workplaces, homes, healthcare facilities, educational institutions and hospitality environments. Its offerings include seating, desks, tables, storage, lighting, textiles and accessories, as well as solutions designed to support collaboration, privacy and flexible work settings.

The company's portfolio includes brands such as Herman Miller, Knoll, Design Within Reach, Muuto, HAY, Maharam and Colebrook Bosson Saunders.

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