Renaissance Technologies LLC Makes New $2.69 Million Investment in MillerKnoll, Inc. $MLKN

Key Points

• Renaissance Technologies purchased 186,183 MillerKnoll shares worth approximately $2.69 million in the first quarter, giving it a roughly 0.27% stake. Institutional investors collectively own 87.5% of the company.
• MillerKnoll exceeded quarterly expectations, reporting adjusted EPS of $0.55 versus a $0.52 consensus estimate and revenue of $1 billion, up 4.4% year over year.
• The company declared a quarterly dividend of $0.1875 per share, equivalent to an annualized $0.75 payout and a 3.1% yield. Analysts maintain a consensus “Hold” rating, while shares recently traded near their 52-week high at $24.49.

Renaissance Technologies LLC purchased a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 186,183 shares of the company's stock, valued at approximately $2,692,000. Renaissance Technologies LLC owned approximately 0.27% of MillerKnoll as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings in MillerKnoll by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after purchasing an additional 519 shares during the last quarter. ProShare Advisors LLC grew its holdings in MillerKnoll by 4.4% during the fourth quarter. ProShare Advisors LLC now owns 13,308 shares of the company's stock valued at $243,000 after purchasing an additional 558 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of MillerKnoll by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 38,972 shares of the company's stock valued at $711,000 after purchasing an additional 767 shares during the period. Rexford Capital Inc. raised its position in shares of MillerKnoll by 17.0% in the fourth quarter. Rexford Capital Inc. now owns 5,500 shares of the company's stock valued at $101,000 after purchasing an additional 800 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of MillerKnoll by 2.0% in 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 during the last quarter. Institutional investors and hedge funds own 87.50% of the company's stock.

MillerKnoll Price Performance

MLKN opened at $24.49 on Monday. MillerKnoll, Inc. has a 1-year low of $13.77 and a 1-year high of $24.71. The company has a current ratio of 1.58, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.01 and a beta of 1.35. The business has a 50 day moving average of $19.48 and a 200-day moving average of $18.54.

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, topping analysts' consensus estimates of $0.52 by $0.03. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $973.87 million. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. MillerKnoll's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. As a group, sell-side analysts anticipate that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, August 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.1%. MillerKnoll's payout ratio is presently 56.82%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MLKN shares. Weiss Ratings upgraded shares of MillerKnoll from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, July 24th. Zacks Research raised shares of MillerKnoll from a "strong sell" rating to a "hold" rating in a research report 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 analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold".

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source