Pzena Investment Management LLC Invests $62.05 Million in MillerKnoll, Inc. $MLKN

Key Points

• Pzena Investment Management acquired 3.03 million MillerKnoll shares worth approximately $62.05 million, giving it a 4.45% stake. Institutional investors collectively own 87.5% of the company.
• MillerKnoll reported quarterly EPS of $0.55, ahead of the $0.52 consensus estimate, while revenue reached $1 billion and increased 4.4% year over year.
• The company declared a quarterly dividend of $0.1875, equivalent to a $0.75 annual payout and a 3.2% yield. Analysts’ consensus rating remains Hold, with one Buy and two Hold ratings.

Pzena Investment Management LLC purchased a new stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,032,700 shares of the company's stock, valued at approximately $62,049,000. Pzena Investment Management LLC owned approximately 4.45% of MillerKnoll as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of MLKN. Osaic Holdings Inc. grew its stake in MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after purchasing an additional 519 shares in the last quarter. ProShare Advisors LLC raised its position in MillerKnoll by 4.4% during the 4th quarter. ProShare Advisors LLC now owns 13,308 shares of the company's stock valued at $243,000 after purchasing an additional 558 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of MillerKnoll by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 38,972 shares of the company's stock worth $711,000 after buying an additional 767 shares during the period. Versant Capital Management Inc lifted its holdings in shares of MillerKnoll by 166.5% in the 2nd quarter. Versant Capital Management Inc now owns 1,250 shares of the company's stock worth $26,000 after buying an additional 781 shares during the period. Finally, Rexford Capital Inc. grew its position in shares of MillerKnoll by 17.0% during the 4th quarter. Rexford Capital Inc. now owns 5,500 shares of the company's stock worth $101,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company's stock.

MillerKnoll Stock Down 2.1%

MillerKnoll stock opened at $23.34 on Tuesday. The business has a fifty day moving average of $20.55 and a two-hundred day moving average of $18.72. The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1.59 billion, a P/E ratio of 17.68, a P/E/G ratio of 0.98 and a beta of 1.35. MillerKnoll, Inc. has a twelve month low of $13.77 and a twelve month high of $24.71.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last announced its earnings results on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $973.87 million. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. On average, analysts forecast that MillerKnoll, Inc. will post 2.02 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings upgraded MillerKnoll from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Zacks Research raised shares of MillerKnoll from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut shares of MillerKnoll from a "buy" rating to a "hold" rating in a report on Sunday, July 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, MillerKnoll has an average rating of "Hold".

MillerKnoll Company 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.

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