New Age Alpha Advisors LLC Acquires 45,362 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Key Points

• New Age Alpha Advisors LLC increased its stake in MillerKnoll, Inc. by 43.2%, owning 150,267 shares worth approximately $2.88 million after purchasing an additional 45,362 shares.
• MillerKnoll has received recent upgrades from analysts, with Wall Street Zen changing its rating from "hold" to "buy" and Benchmark upgrading it to "hold."
• The company declared a quarterly dividend of $0.1875, with an annualized yield of 3.8%, despite a negative net margin of 1.01%.

New Age Alpha Advisors LLC boosted its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 43.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,267 shares of the company's stock after purchasing an additional 45,362 shares during the period. New Age Alpha Advisors LLC owned 0.22% of MillerKnoll worth $2,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Deprince Race & Zollo Inc. bought a new stake in shares of MillerKnoll during the fourth quarter worth approximately $32,283,000. LSV Asset Management grew its stake in shares of MillerKnoll by 36.4% in the 1st quarter. LSV Asset Management now owns 1,280,484 shares of the company's stock valued at $24,508,000 after buying an additional 342,048 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in MillerKnoll in the 4th quarter valued at about $6,576,000. Russell Investments Group Ltd. lifted its position in shares of MillerKnoll by 198.0% during the 4th quarter. Russell Investments Group Ltd. now owns 433,884 shares of the company's stock worth $9,801,000 after buying an additional 288,304 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of MillerKnoll by 43.7% in the 4th quarter. Millennium Management LLC now owns 877,809 shares of the company's stock worth $19,830,000 after purchasing an additional 267,097 shares during the period. 87.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MLKN has been the subject of several recent analyst reports. Benchmark raised shares of MillerKnoll to a "hold" rating in a research note on Friday, June 27th. Wall Street Zen upgraded shares of MillerKnoll from a "hold" rating to a "buy" rating in a research note on Monday, May 12th.

MillerKnoll Stock Performance

MLKN traded down $0.16 during trading on Monday, hitting $19.76. The stock had a trading volume of 52,258 shares, compared to its average volume of 542,935. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 1.58. MillerKnoll, Inc. has a twelve month low of $15.25 and a twelve month high of $30.56. The firm has a market capitalization of $1.34 billion, a P/E ratio of -35.29, a PEG ratio of 0.92 and a beta of 1.22. The company's 50-day moving average price is $19.00 and its 200 day moving average price is $18.97.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. The business had revenue of $961.80 million during the quarter, compared to the consensus estimate of $913.80 million. MillerKnoll had a negative net margin of 1.01% and a positive return on equity of 10.44%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. On average, equities research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Sunday, August 31st will be paid a $0.1875 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.75 annualized dividend and a dividend yield of 3.8%. MillerKnoll's dividend payout ratio (DPR) is presently -133.93%.

About MillerKnoll

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.