LSV Asset Management Purchases 342,048 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Key Points

• LSV Asset Management increased its holdings in MillerKnoll, Inc. by 36.4%, acquiring an additional 342,048 shares to own a total of 1,280,484 shares, valued at approximately $24.5 million.
• MillerKnoll's recent earnings report showed a 60 cents earnings per share, exceeding analysts' expectations by 16 cents, with revenue also surpassing forecasts at $961.8 million.
• The company declared a quarterly dividend of $0.1875, translating to an annualized dividend yield of 4.1%, despite a negative payout ratio currently at -133.93%.

LSV Asset Management grew its position in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 36.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,280,484 shares of the company's stock after purchasing an additional 342,048 shares during the period. LSV Asset Management owned about 1.89% of MillerKnoll worth $24,508,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Deprince Race & Zollo Inc. bought a new stake in MillerKnoll during the fourth quarter worth approximately $32,283,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in MillerKnoll in the 4th quarter worth $6,576,000. Russell Investments Group Ltd. increased its stake in MillerKnoll by 198.0% during the fourth quarter. Russell Investments Group Ltd. now owns 433,884 shares of the company's stock valued at $9,801,000 after acquiring an additional 288,304 shares during the period. Millennium Management LLC increased its position in shares of MillerKnoll by 43.7% during the fourth quarter. Millennium Management LLC now owns 877,809 shares of the company's stock valued at $19,830,000 after purchasing an additional 267,097 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of MillerKnoll by 39.9% during the 4th quarter. Wellington Management Group LLP now owns 804,105 shares of the company's stock valued at $18,165,000 after acquiring an additional 229,283 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

MillerKnoll Trading Up 0.4%

Shares of MLKN traded up $0.08 on Thursday, reaching $19.86. 289,184 shares of the company's stock were exchanged, compared to its average volume of 546,260. The business has a 50 day moving average price of $18.88 and a two-hundred day moving average price of $19.05. The stock has a market capitalization of $1.35 billion, a P/E ratio of -35.46, a price-to-earnings-growth ratio of 0.91 and a beta of 1.22. MillerKnoll, Inc. has a 12 month low of $15.25 and a 12 month high of $30.56. 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 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. MillerKnoll had a positive return on equity of 10.44% and a negative net margin of 1.01%. The company had revenue of $961.80 million during the quarter, compared to analysts' expectations of $913.80 million. During the same period in the prior year, the business posted $0.67 EPS. MillerKnoll's revenue was up 8.2% on a year-over-year basis. Research analysts anticipate that MillerKnoll, Inc. will post 2.12 earnings per share for the current year.

MillerKnoll Announces Dividend

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

Analyst Ratings Changes

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

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.