Front Street Capital Management Inc. Sells 28,187 Shares of MillerKnoll, Inc. $MLKN

Key Points

• Front Street Capital Management Inc. reduced its stake in MillerKnoll, Inc. by 4.4%, selling 28,187 shares, and now holds 609,293 shares, accounting for 2.2% of its portfolio.
• Several hedge funds have increased their holdings in MillerKnoll, with Studio Investment Management LLC leading with a 29.9% boost in shares during the fourth quarter.
• MillerKnoll announced a quarterly dividend of $0.1875, with a yield of 3.5%, despite a negative dividend payout ratio of -133.93% as it continues to navigate financial challenges.

Front Street Capital Management Inc. reduced its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 609,293 shares of the company's stock after selling 28,187 shares during the period. MillerKnoll accounts for approximately 2.2% of Front Street Capital Management Inc.'s investment portfolio, making the stock its 12th biggest holding. Front Street Capital Management Inc. owned approximately 0.90% of MillerKnoll worth $11,662,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Petrus Trust Company LTA acquired a new stake in MillerKnoll during the 1st quarter worth about $340,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in MillerKnoll by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company's stock worth $775,000 after acquiring an additional 801 shares during the period. Invenomic Capital Management LP grew its holdings in MillerKnoll by 88.3% during the 1st quarter. Invenomic Capital Management LP now owns 183,541 shares of the company's stock worth $3,513,000 after acquiring an additional 86,083 shares during the period. Bridgeway Capital Management LLC grew its holdings in MillerKnoll by 1.2% during the 1st quarter. Bridgeway Capital Management LLC now owns 657,233 shares of the company's stock worth $12,579,000 after acquiring an additional 7,711 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of MillerKnoll by 39.4% in the 1st quarter. Royal Bank of Canada now owns 19,451 shares of the company's stock valued at $373,000 after buying an additional 5,495 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLKN has been the subject of several research reports. Benchmark upgraded MillerKnoll to a "hold" rating in a research note on Friday, June 27th. Zacks Research upgraded MillerKnoll from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Wall Street Zen upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, MillerKnoll currently has an average rating of "Hold".

MillerKnoll Stock Down 2.8%

NASDAQ MLKN traded down $0.58 during trading hours on Friday, hitting $20.51. The company's stock had a trading volume of 60,045 shares, compared to its average volume of 519,878. MillerKnoll, Inc. has a 52 week low of $15.25 and a 52 week high of $28.33. The company has a market capitalization of $1.40 billion, a PE ratio of -36.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The company's 50-day simple moving average is $20.52 and its two-hundred day simple moving average is $18.82.

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, beating 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 for the quarter, compared to analysts' expectations of $913.80 million. During the same quarter last year, the firm earned $0.67 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. MillerKnoll has set its Q1 2026 guidance at 0.320-0.38 EPS. Research analysts anticipate that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Sunday, August 31st will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.75 annualized dividend and a yield of 3.7%. MillerKnoll's dividend payout ratio (DPR) is presently -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.