Empowered Funds LLC Acquires 55,313 Shares of MillerKnoll, Inc. $MLKN

Key Points

• Empowered Funds increased its MillerKnoll stake by 21.3% in the first quarter, purchasing 55,313 additional shares and bringing its holdings to 315,409 shares worth approximately $4.6 million. Institutional investors collectively own 87.5% of the company.
• MillerKnoll reported quarterly earnings of $0.55 per share, exceeding estimates of $0.52, while revenue rose 4.4% year over year to $1 billion. The company issued fiscal 2027 EPS guidance of $1.85 to $2.15.
• The company declared a quarterly dividend of $0.1875 per share, equivalent to $0.75 annually and a 3.3% yield. Analysts maintain a consensus “Hold” rating, with one Buy and two Hold ratings.

Empowered Funds LLC boosted its holdings in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 315,409 shares of the company's stock after purchasing an additional 55,313 shares during the period. Empowered Funds LLC owned about 0.46% of MillerKnoll worth $4,561,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Douglas Lane & Associates LLC raised its position in MillerKnoll by 92.4% in the fourth quarter. Douglas Lane & Associates LLC now owns 445,145 shares of the company's stock worth $8,137,000 after acquiring an additional 213,816 shares during the period. Deprince Race & Zollo Inc. grew its position in shares of MillerKnoll by 27.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company's stock valued at $46,267,000 after acquiring an additional 541,638 shares during the period. Hsbc Holdings PLC grew its position in shares of MillerKnoll by 240.9% during the 4th quarter. Hsbc Holdings PLC now owns 80,559 shares of the company's stock valued at $1,488,000 after acquiring an additional 56,927 shares during the period. SG Americas Securities LLC grew its position in shares of MillerKnoll by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 549,173 shares of the company's stock valued at $7,941,000 after acquiring an additional 70,446 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of MillerKnoll by 41.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,259,388 shares of the company's stock worth $18,211,000 after purchasing an additional 366,726 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.

MillerKnoll Price Performance

NASDAQ MLKN opened at $22.52 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.53 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 0.93 and a beta of 1.35. MillerKnoll, Inc. has a 52 week low of $13.77 and a 52 week high of $23.77. The firm's 50-day simple moving average is $18.67 and its two-hundred day simple moving average is $18.37.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last posted its earnings results on Wednesday, June 24th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $973.87 million. During the same quarter last year, the company earned $0.60 earnings per share. The company's revenue 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. Research analysts predict that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Saturday, August 29th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.75 annualized dividend and a yield of 3.3%. MillerKnoll's dividend payout ratio (DPR) is 56.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MLKN shares. Weiss Ratings raised shares of MillerKnoll from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, July 24th. Zacks Research raised MillerKnoll from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. Finally, Wall Street Zen downgraded MillerKnoll from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, MillerKnoll has an average rating of "Hold".

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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