Envestnet Asset Management Inc. Decreases Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

Key Points

• Envestnet Asset Management Inc. reduced its stake in MillerKnoll, Inc. by 66.4%, holding 25,301 shares valued at $484,000 after selling 49,966 shares in the first quarter.
• Institutional investors and hedge funds collectively own 87.50% of MillerKnoll's stock, indicating strong institutional interest in the company.
• MillerKnoll recently declared a quarterly dividend of $0.1875 per share, representing a 3.8% yield, while the company reported a revenue increase of 8.2% year-over-year in its latest earnings.

Envestnet Asset Management Inc. reduced its stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 66.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,301 shares of the company's stock after selling 49,966 shares during the period. Envestnet Asset Management Inc.'s holdings in MillerKnoll were worth $484,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in MillerKnoll by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,820,581 shares of the company's stock worth $86,306,000 after acquiring an additional 121,478 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in MillerKnoll in the 4th quarter worth about $32,283,000. Vulcan Value Partners LLC grew its stake in MillerKnoll by 12.8% in the 4th quarter. Vulcan Value Partners LLC now owns 1,252,093 shares of the company's stock worth $28,285,000 after acquiring an additional 141,936 shares in the last quarter. Forager Capital Management LLC grew its stake in MillerKnoll by 23.9% in the 4th quarter. Forager Capital Management LLC now owns 1,181,841 shares of the company's stock worth $26,698,000 after acquiring an additional 228,000 shares in the last quarter. Finally, LSV Asset Management grew its stake in MillerKnoll by 0.6% in the 4th quarter. LSV Asset Management now owns 938,436 shares of the company's stock worth $21,199,000 after acquiring an additional 5,690 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.

MillerKnoll Stock Up 0.3%

Shares of MLKN traded up $0.06 during mid-day trading on Friday, hitting $19.92. The company's stock had a trading volume of 415,562 shares, compared to its average volume of 393,132. The company's 50-day moving average is $19.00 and its 200-day moving average is $19.02. MillerKnoll, Inc. has a 52-week low of $15.25 and a 52-week high of $30.56. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -35.57, a PEG ratio of 0.91 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. MillerKnoll had a negative net margin of 1.01% and a positive return on equity of 10.44%. The firm had revenue of $961.80 million during the quarter, compared to analysts' expectations of $913.80 million. During the same quarter in the prior year, the company earned $0.67 EPS. The company's revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Sunday, August 31st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.75 dividend on an annualized basis and a yield of 3.8%. MillerKnoll's dividend payout ratio is presently -133.93%.

Wall Street Analyst Weigh In

MLKN has been the subject of several research reports. Wall Street Zen raised shares of MillerKnoll from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Benchmark raised shares of MillerKnoll to a "hold" rating in a research report on Friday, June 27th.

MillerKnoll Profile

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.