Envestnet Asset Management Inc. Has $484,000 Position 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. lessened its stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 66.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,301 shares of the company's stock after selling 49,966 shares during the quarter. Envestnet Asset Management Inc.'s holdings in MillerKnoll were worth $484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Studio Investment Management LLC boosted its holdings in shares of MillerKnoll by 29.9% in the fourth quarter. Studio Investment Management LLC now owns 2,149 shares of the company's stock valued at $49,000 after buying an additional 495 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of MillerKnoll by 2.7% in the fourth quarter. MetLife Investment Management LLC now owns 41,548 shares of the company's stock valued at $939,000 after buying an additional 1,078 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of MillerKnoll by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,679 shares of the company's stock valued at $896,000 after buying an additional 1,508 shares during the period. Sei Investments Co. boosted its holdings in shares of MillerKnoll by 12.7% in the fourth quarter. Sei Investments Co. now owns 16,002 shares of the company's stock valued at $361,000 after buying an additional 1,800 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of MillerKnoll by 793.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,198 shares of the company's stock valued at $50,000 after buying an additional 1,952 shares during the period. Institutional investors and hedge funds own 87.50% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MLKN. Benchmark upgraded shares of MillerKnoll to a "hold" rating in a report on Friday, June 27th. Wall Street Zen upgraded shares of MillerKnoll from a "hold" rating to a "buy" rating in a report on Monday, May 12th.

MillerKnoll Stock Performance

Shares of MLKN opened at $19.78 on Wednesday. MillerKnoll, Inc. has a 12 month low of $15.25 and a 12 month high of $30.56. The firm has a fifty day simple moving average of $18.82 and a 200 day simple moving average of $19.04. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -35.32, a PEG ratio of 0.90 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 earnings results on Wednesday, June 25th. The company reported $0.60 EPS 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 business 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 posted $0.67 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. Research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

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

MillerKnoll Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.