LPL Financial LLC Reduces Stock Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

LPL Financial LLC cut its stake in MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 69.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,941 shares of the company's stock after selling 33,593 shares during the period. LPL Financial LLC's holdings in MillerKnoll were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLKN. Smartleaf Asset Management LLC lifted its position in MillerKnoll by 458.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company's stock valued at $33,000 after buying an additional 1,201 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of MillerKnoll by 228.8% during the fourth quarter. Avior Wealth Management LLC now owns 2,081 shares of the company's stock worth $47,000 after acquiring an additional 1,448 shares during the period. KBC Group NV raised its position in MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company's stock valued at $75,000 after purchasing an additional 1,281 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in MillerKnoll in the fourth quarter worth approximately $339,000. Finally, Sei Investments Co. lifted its position in shares of MillerKnoll by 12.7% during the 4th quarter. Sei Investments Co. now owns 16,002 shares of the company's stock worth $361,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MLKN. StockNews.com downgraded MillerKnoll from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Sidoti raised MillerKnoll to a "hold" rating in a research note on Tuesday, March 25th.

MillerKnoll Stock Performance

NASDAQ MLKN traded up $0.25 on Friday, hitting $16.47. 27,338 shares of the company's stock were exchanged, compared to its average volume of 601,369. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99. The firm's 50-day moving average price is $18.32 and its two-hundred day moving average price is $21.60. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 0.89 and a beta of 1.05. MillerKnoll, Inc. has a fifty-two week low of $15.25 and a fifty-two week high of $31.73.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The firm had revenue of $876.20 million during the quarter, compared to analysts' expectations of $918.88 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. MillerKnoll's revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, research analysts expect that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Sunday, June 1st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.56%. MillerKnoll's payout ratio is 178.57%.

MillerKnoll Company Profile

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.