MillerKnoll, Inc. $MLKN Shares Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management cut its MillerKnoll stake by 4.3%, selling 130,985 shares in the third quarter; it retained 2.90 million shares, worth about $57 million.
• MillerKnoll reported quarterly EPS of $0.53, beating the $0.35 consensus, while revenue of $923.4 million fell short of estimates and declined 3.4% year over year.
• The company declared a quarterly dividend of $0.1875 per share, equivalent to $0.75 annually and a 3.3% yield; analysts’ average rating was “Moderate Buy.”

Pzena Investment Management LLC reduced its position in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,901,715 shares of the company's stock after selling 130,985 shares during the period. Pzena Investment Management LLC owned 4.22% of MillerKnoll worth $57,048,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in MillerKnoll during the second quarter valued at about $41,000. Nykredit A S purchased a new position in shares of MillerKnoll in the second quarter worth about $28,000. Amundi bought a new stake in shares of MillerKnoll in the second quarter valued at approximately $373,000. HighTower Advisors LLC bought a new stake in shares of MillerKnoll in the second quarter valued at approximately $236,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of MillerKnoll by 48.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 170,612 shares of the company's stock valued at $3,491,000 after buying an additional 55,307 shares in the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.

MillerKnoll Stock Up 6.3%

Shares of NASDAQ MLKN opened at $22.77 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.65 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.57 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.88 and a beta of 1.37. MillerKnoll, Inc. has a 52 week low of $13.77 and a 52 week high of $24.71. The business has a 50-day simple moving average of $21.23 and a two-hundred day simple moving average of $19.53.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its quarterly earnings results on Tuesday, September 22nd. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.18. MillerKnoll had a return on equity of 10.10% and a net margin of 2.57%. The firm had revenue of $923.40 million for the quarter, compared to analysts' expectations of $940.93 million. During the same period in the prior year, the business posted $0.45 earnings per share. The company's revenue was down 3.4% on a year-over-year basis. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q2 2027 guidance at 0.430-0.490 EPS. Research analysts anticipate that MillerKnoll, Inc. will post 2.02 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Saturday, November 28th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 27th. MillerKnoll's dividend payout ratio is 53.19%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings raised shares of MillerKnoll from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of MillerKnoll from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. Finally, Benchmark upgraded MillerKnoll from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

About MillerKnoll

MillerKnoll, Inc is a global design company that develops and sells furnishings, accessories and related products for workplaces, homes, healthcare facilities, educational institutions and hospitality environments. Its offerings include office seating, desks, tables, storage, lighting, textiles and architectural products, along with residential furniture and decorative accessories.

The company markets products through a portfolio of brands that includes Herman Miller, Knoll, Design Within Reach, HAY, Muuto, Maharam, Geiger, Holly Hunt, Edelman Leather, DatesWeiser and Colebrook Bosson Saunders.

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