Allianz Asset Management GmbH Buys New Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Allianz Asset Management GmbH purchased a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,509 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds have also made changes to their positions in the business. Deprince Race & Zollo Inc. purchased a new position in shares of MillerKnoll in the fourth quarter valued at approximately $32,283,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MillerKnoll in the 4th quarter valued at approximately $6,576,000. Russell Investments Group Ltd. boosted its position in MillerKnoll by 198.0% in the 4th quarter. Russell Investments Group Ltd. now owns 433,884 shares of the company’s stock valued at $9,801,000 after buying an additional 288,304 shares during the period. Millennium Management LLC grew its stake in shares of MillerKnoll by 43.7% in the fourth quarter. Millennium Management LLC now owns 877,809 shares of the company’s stock worth $19,830,000 after acquiring an additional 267,097 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of MillerKnoll by 39.9% during the fourth quarter. Wellington Management Group LLP now owns 804,105 shares of the company’s stock worth $18,165,000 after acquiring an additional 229,283 shares during the period. Institutional investors and hedge funds own 87.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MLKN. Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Benchmark raised MillerKnoll to a “hold” rating in a research report on Friday, June 27th.

MillerKnoll Stock Up 7.5%

Shares of MillerKnoll stock opened at $19.57 on Tuesday. MillerKnoll, Inc. has a 52-week low of $15.25 and a 52-week high of $30.56. The company has a 50 day moving average of $18.77 and a 200 day moving average of $19.04. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $1.33 billion, a P/E ratio of -34.95, a P/E/G ratio of 0.84 and a beta of 1.22.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. The business had revenue of $961.80 million for the quarter, compared to analyst estimates of $913.80 million. MillerKnoll had a negative net margin of 1.01% and a positive return on equity of 10.44%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. As a group, research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Sunday, 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 3.8%. The ex-dividend date of this dividend is Friday, August 29th. MillerKnoll’s payout ratio is -133.93%.

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.