Ameriprise Financial Inc. Sells 66,521 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Ameriprise Financial Inc. lessened its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 293,851 shares of the company’s stock after selling 66,521 shares during the period. Ameriprise Financial Inc. owned 0.43% of MillerKnoll worth $6,639,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MLKN. Smartleaf Asset Management LLC increased its stake in MillerKnoll by 458.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock worth $33,000 after acquiring an additional 1,201 shares during the period. Avior Wealth Management LLC increased 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 worth $47,000 after acquiring an additional 1,448 shares during the period. Sterling Capital Management LLC increased its stake in MillerKnoll by 793.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock worth $50,000 after acquiring an additional 1,952 shares during the period. KBC Group NV increased its stake in MillerKnoll by 62.9% during the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after acquiring an additional 1,281 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in MillerKnoll during the 4th quarter worth $221,000. Institutional investors own 87.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MLKN. Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Sidoti upgraded MillerKnoll to a “hold” rating in a research note on Tuesday, March 25th.

MillerKnoll Trading Up 0.4%

Shares of MLKN opened at $16.56 on Friday. MillerKnoll, Inc. has a 52-week low of $15.25 and a 52-week high of $31.73. The business’s fifty day moving average is $17.25 and its 200-day moving average is $20.89. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 0.89 and a beta of 1.17.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The company had revenue of $876.20 million for the quarter, compared to analyst estimates of $918.88 million. During the same quarter last year, the company posted $0.45 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts anticipate that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Sunday, June 1st will be paid a $0.1875 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.75 annualized dividend and a dividend yield of 4.53%. MillerKnoll’s payout ratio is 178.57%.

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.