MillerKnoll, Inc. $MLKN Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its MillerKnoll stake by 6,780.6% in the first quarter, reaching 47,132 shares worth approximately $682,000. Institutional investors collectively own 87.5% of MLKN.
• MillerKnoll reported quarterly EPS of $0.55, beating estimates by $0.03, while revenue rose 4.4% year over year to $1 billion. Analysts’ average rating remains Hold.
• The company declared a quarterly dividend of $0.1875, equivalent to $0.75 annually and a 3.2% yield. Shares opened at $23.60, near their 52-week high of $23.77.

Fifth Third Bancorp raised its position in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 6,780.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 47,132 shares of the company's stock after purchasing an additional 46,447 shares during the period. Fifth Third Bancorp owned 0.07% of MillerKnoll worth $682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLKN. Royal Bank of Canada lifted its stake in MillerKnoll by 39.4% in the 1st quarter. Royal Bank of Canada now owns 19,451 shares of the company's stock worth $373,000 after purchasing an additional 5,495 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MillerKnoll by 2.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company's stock worth $775,000 after buying an additional 801 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in MillerKnoll by 7.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,932 shares of the company's stock worth $3,788,000 after buying an additional 13,099 shares during the last quarter. Jane Street Group LLC boosted its stake in MillerKnoll by 311.8% during the first quarter. Jane Street Group LLC now owns 414,275 shares of the company's stock worth $7,929,000 after buying an additional 313,684 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in MillerKnoll by 177.3% in the 2nd quarter. Hsbc Holdings PLC now owns 28,704 shares of the company's stock valued at $553,000 after buying an additional 18,354 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company's stock.

Analyst Ratings Changes

MLKN has been the topic of several recent research reports. Weiss Ratings raised shares of MillerKnoll from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Wall Street Zen downgraded shares of MillerKnoll from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Zacks Research upgraded shares of MillerKnoll from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

MillerKnoll Price Performance

Shares of NASDAQ MLKN opened at $23.60 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 0.90. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 0.93 and a beta of 1.36. The stock's 50-day moving average is $18.24 and its two-hundred day moving average is $18.30. MillerKnoll, Inc. has a 1-year low of $13.77 and a 1-year high of $23.77.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $973.87 million. During the same period last year, the business earned $0.60 EPS. The company's revenue was up 4.4% on a year-over-year basis. 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 forecast that MillerKnoll, Inc. will post 2.02 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Saturday, August 29th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.2%. MillerKnoll's dividend payout ratio is 56.82%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.