Empowered Funds LLC Makes New Investment in MillerKnoll, Inc. $MLKN

Key Points

• Empowered Funds LLC acquired 335,766 MillerKnoll shares worth approximately $6.87 million, representing 0.49% of the company. Institutional investors collectively own 87.5% of MLKN, with BlackRock and Pzena also establishing new positions.
• MillerKnoll’s latest quarterly results exceeded expectations, with adjusted earnings of $0.55 per share versus the $0.52 consensus estimate and revenue of $1 billion, up 4.4% year over year.
• The company declared a quarterly dividend of $0.1875 per share, or $0.75 annually, yielding about 3.2%. Analysts maintain a generally neutral outlook, with one Buy rating and two Hold ratings.

Empowered Funds LLC purchased a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 335,766 shares of the company's stock, valued at approximately $6,870,000. Empowered Funds LLC owned 0.49% of MillerKnoll at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in MillerKnoll in the second quarter valued at approximately $213,054,000. Vanguard Group Inc. grew its holdings in MillerKnoll by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 8,550,194 shares of the company's stock worth $156,298,000 after acquiring an additional 623,035 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of MillerKnoll by 7.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,166,059 shares of the company's stock valued at $91,646,000 after purchasing an additional 340,917 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of MillerKnoll by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,610,776 shares of the company's stock valued at $52,211,000 after purchasing an additional 103,372 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in shares of MillerKnoll in the 2nd quarter valued at $62,049,000. Hedge funds and other institutional investors own 87.50% of the company's stock.

MillerKnoll Price Performance

MLKN opened at $23.13 on Monday. MillerKnoll, Inc. has a one year low of $13.77 and a one year high of $24.71. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.58. The stock has a market capitalization of $1.58 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.36. The business's 50-day simple moving average is $21.89 and its 200-day simple moving average is $18.86.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. The company reported $0.55 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $973.87 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The firm's 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. Analysts anticipate that MillerKnoll, Inc. will post 2.02 EPS for the current year.

MillerKnoll Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 3.2%. MillerKnoll's dividend payout ratio is currently 56.82%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of MillerKnoll from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. Zacks Research raised MillerKnoll from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings raised MillerKnoll from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, MillerKnoll presently has an average rating of "Hold".

MillerKnoll 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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