Intech Investment Management LLC Sells 30,820 Shares of MillerKnoll, Inc. $MLKN

Intech Investment Management LLC cut its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 23.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,314 shares of the company’s stock after selling 30,820 shares during the quarter. Intech Investment Management LLC’s holdings in MillerKnoll were worth $1,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLKN. Summit Securities Group LLC bought a new stake in shares of MillerKnoll in the first quarter valued at approximately $70,000. CWM LLC lifted its position in MillerKnoll by 346.9% during the second quarter. CWM LLC now owns 5,072 shares of the company’s stock worth $99,000 after purchasing an additional 3,937 shares during the period. Headlands Technologies LLC grew its stake in MillerKnoll by 816.5% during the first quarter. Headlands Technologies LLC now owns 7,213 shares of the company’s stock worth $138,000 after buying an additional 6,426 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in MillerKnoll during the second quarter worth about $200,000. Finally, Allianz Asset Management GmbH bought a new position in MillerKnoll in the 1st quarter valued at about $201,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLKN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MillerKnoll in a report on Monday. Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Zacks Research raised MillerKnoll from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

MillerKnoll Price Performance

Shares of NASDAQ:MLKN opened at $15.21 on Friday. MillerKnoll, Inc. has a one year low of $13.77 and a one year high of $25.96. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.67 and a quick ratio of 0.96. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -60.84, a PEG ratio of 0.71 and a beta of 1.36. The firm has a 50 day simple moving average of $16.66 and a 200 day simple moving average of $18.28.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, February 16th. The company reported $0.35 earnings per share (EPS) for the quarter. MillerKnoll had a negative net margin of 0.41% and a positive return on equity of 10.96%. The company had revenue of $92.95 million during the quarter. Research analysts predict that MillerKnoll, Inc. will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Saturday, November 29th will be given a $0.1875 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.75 annualized dividend and a yield of 4.9%. MillerKnoll’s dividend payout ratio (DPR) is currently -300.00%.

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.