Nuveen Asset Management LLC Reduces Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Nuveen Asset Management LLC lowered its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,015 shares of the company’s stock after selling 3,498 shares during the period. Nuveen Asset Management LLC owned approximately 0.28% of MillerKnoll worth $4,292,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLKN. Smartleaf Asset Management LLC grew 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 worth $33,000 after acquiring an additional 1,201 shares in the last quarter. Sterling Capital Management LLC grew its position in MillerKnoll by 793.5% in the fourth 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 in the last quarter. KBC Group NV grew its position in MillerKnoll by 62.9% in the fourth quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after acquiring an additional 1,281 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in MillerKnoll in the fourth quarter worth about $221,000. Finally, Cetera Investment Advisers purchased a new position in shares of MillerKnoll during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.

MillerKnoll Stock Down 1.9%

Shares of NASDAQ:MLKN opened at $16.86 on Friday. MillerKnoll, Inc. has a 1 year low of $15.25 and a 1 year high of $31.73. The business has a 50 day simple moving average of $16.99 and a two-hundred day simple moving average of $20.55. The firm has a market capitalization of $1.14 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.89 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last announced its 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 business had revenue of $876.20 million during the quarter, compared to analyst estimates of $918.88 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts predict that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Dividend Announcement

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 paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Friday, May 30th. MillerKnoll’s dividend payout ratio is presently 178.57%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MLKN shares. Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Sidoti upgraded MillerKnoll to a “hold” rating in a research report on Tuesday, March 25th.

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.