Rhumbline Advisers Has $4.05 Million Stock Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Rhumbline Advisers lowered its position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,824 shares of the company’s stock after selling 12,320 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of MillerKnoll worth $4,054,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MLKN. State of New Jersey Common Pension Fund D increased its position in shares of MillerKnoll by 35.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 89,402 shares of the company’s stock worth $2,020,000 after purchasing an additional 23,239 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of MillerKnoll by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 368,453 shares of the company’s stock worth $8,323,000 after purchasing an additional 9,924 shares in the last quarter. Handelsbanken Fonder AB increased its position in MillerKnoll by 21.5% in the 4th quarter. Handelsbanken Fonder AB now owns 20,877 shares of the company’s stock valued at $472,000 after acquiring an additional 3,700 shares in the last quarter. Smartleaf Asset Management LLC increased its position in MillerKnoll by 458.4% in the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in MillerKnoll by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,312,945 shares of the company’s stock valued at $29,659,000 after acquiring an additional 42,343 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.

Analysts Set New Price Targets

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

MillerKnoll Trading Down 2.5%

MLKN opened at $16.91 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $1.15 billion, a PE ratio of 18.58, a PEG ratio of 0.89 and a beta of 1.17. MillerKnoll, Inc. has a 1-year low of $15.25 and a 1-year high of $31.73. The firm has a 50-day moving average price of $16.75 and a two-hundred day moving average price of $20.10.

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

MillerKnoll Announces Dividend

The firm also recently announced 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. This represents a $0.75 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, May 30th. MillerKnoll’s dividend payout ratio (DPR) is presently 178.57%.

MillerKnoll 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.