Intech Investment Management LLC Makes New $425,000 Investment in MillerKnoll, Inc. (NASDAQ:MLKN)

Intech Investment Management LLC purchased a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,060 shares of the company’s stock, valued at approximately $425,000.

A number of other large investors also recently bought and sold shares of MLKN. Hsbc Holdings PLC raised its stake in shares of MillerKnoll by 10.3% in the 2nd quarter. Hsbc Holdings PLC now owns 9,761 shares of the company’s stock valued at $256,000 after acquiring an additional 908 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of MillerKnoll by 26.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,662 shares of the company’s stock valued at $415,000 after acquiring an additional 3,250 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of MillerKnoll by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after acquiring an additional 377,121 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of MillerKnoll by 82.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 68,331 shares of the company’s stock valued at $1,810,000 after acquiring an additional 30,934 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of MillerKnoll by 2.0% in the 2nd quarter. American Century Companies Inc. now owns 148,180 shares of the company’s stock valued at $3,925,000 after acquiring an additional 2,868 shares during the period. Hedge funds and other institutional investors own 87.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of MillerKnoll from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd.

MillerKnoll Stock Performance

Shares of MLKN stock opened at $24.39 on Friday. The company’s fifty day simple moving average is $28.03 and its 200-day simple moving average is $27.28. MillerKnoll, Inc. has a 52 week low of $22.43 and a 52 week high of $31.73. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.75 billion, a PE ratio of 21.97, a P/E/G ratio of 0.93 and a beta of 1.18.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $861.50 million for the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. MillerKnoll’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. As a group, equities research analysts anticipate that MillerKnoll, Inc. will post 2.17 EPS for the current year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Saturday, August 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, August 30th. MillerKnoll’s payout ratio is 67.57%.

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.