Vulcan Value Partners LLC Has $21.73 Million Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Key Points

• Vulcan Value Partners LLC has reduced its stake in MillerKnoll, Inc. by 10.2% during the first quarter, now owning approximately 1.12 million shares valued at $21.73 million.
• MillerKnoll reported Q1 earnings of $0.60 per share, exceeding analysts' expectations of $0.44, with a revenue increase of 8.2% year-over-year.
• The company declared a quarterly dividend of $0.1875 per share, representing a 4.0% yield, with a payout ratio of -133.93%.

Vulcan Value Partners LLC cut its stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,124,156 shares of the company's stock after selling 127,937 shares during the period. Vulcan Value Partners LLC owned about 1.66% of MillerKnoll worth $21,727,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Studio Investment Management LLC boosted its position in MillerKnoll by 29.9% in the 4th quarter. Studio Investment Management LLC now owns 2,149 shares of the company's stock valued at $49,000 after buying an additional 495 shares during the last quarter. MetLife Investment Management LLC boosted its position in MillerKnoll by 2.7% in the 4th quarter. MetLife Investment Management LLC now owns 41,548 shares of the company's stock valued at $939,000 after buying an additional 1,078 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in MillerKnoll by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,679 shares of the company's stock valued at $896,000 after buying an additional 1,508 shares during the last quarter. Sei Investments Co. boosted its position in MillerKnoll by 12.7% in the 4th quarter. Sei Investments Co. now owns 16,002 shares of the company's stock valued at $361,000 after buying an additional 1,800 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in MillerKnoll by 793.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company's stock valued at $50,000 after buying an additional 1,952 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Benchmark raised MillerKnoll to a "hold" rating in a research note on Friday, June 27th.

MillerKnoll Trading Up 0.7%

Shares of MLKN stock traded up $0.15 during trading hours on Tuesday, reaching $19.72. The company had a trading volume of 177,495 shares, compared to its average volume of 548,853. The company has a 50 day moving average of $18.77 and a 200 day moving average of $19.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.94. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -35.21, a P/E/G ratio of 0.84 and a beta of 1.22. MillerKnoll, Inc. has a 1-year low of $15.25 and a 1-year high of $30.56.

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

MillerKnoll Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Sunday, August 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, August 29th. 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.