Renaissance Technologies LLC Sells 69,500 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Renaissance Technologies LLC lessened its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN - Free Report) by 58.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,700 shares of the company's stock after selling 69,500 shares during the period. Renaissance Technologies LLC owned 0.07% of MillerKnoll worth $1,100,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of 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 acquiring an additional 1,201 shares during the period. Avior Wealth Management LLC boosted its stake in MillerKnoll by 228.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company's stock valued at $47,000 after purchasing an additional 1,448 shares during the last quarter. KBC Group NV lifted its stake in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company's stock worth $75,000 after purchasing an additional 1,281 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of MillerKnoll in the fourth quarter worth $238,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of MillerKnoll in the fourth quarter valued at $339,000. 87.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MLKN. StockNews.com cut MillerKnoll from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Sidoti raised shares of MillerKnoll to a "hold" rating in a research note on Tuesday, March 25th.

MillerKnoll Stock Performance

Shares of MLKN stock traded up $0.50 during midday trading on Friday, hitting $16.72. The company had a trading volume of 498,421 shares, compared to its average volume of 604,079. MillerKnoll, Inc. has a 52-week low of $15.25 and a 52-week high of $31.73. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.89 and a beta of 1.05. 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 company's 50 day simple moving average is $18.21 and its 200 day simple moving average is $21.55.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.44. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The business had revenue of $876.20 million during the quarter, compared to analysts' expectations of $918.88 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company's revenue for the quarter was up .4% on a year-over-year basis. Research analysts anticipate that MillerKnoll, Inc. will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 4.49%. The ex-dividend date is Friday, May 30th. MillerKnoll's dividend payout ratio (DPR) is currently 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.