Vulcan Value Partners LLC Purchases 272,783 Shares of MillerKnoll, Inc. $MLKN

Vulcan Value Partners LLC increased its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 24.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,389,715 shares of the company’s stock after acquiring an additional 272,783 shares during the period. Vulcan Value Partners LLC’s holdings in MillerKnoll were worth $25,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after acquiring an additional 519 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of MillerKnoll during the 4th quarter worth $46,000. Harbour Investments Inc. increased its stake in shares of MillerKnoll by 47.7% during the 4th quarter. Harbour Investments Inc. now owns 3,095 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of MillerKnoll during the 3rd quarter worth $72,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of MillerKnoll during the 2nd quarter valued at $82,000. Institutional investors own 87.50% of the company’s stock.

Analysts Set New Price Targets

MLKN has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MillerKnoll in a research note on Friday, April 24th. Zacks Research raised shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

MillerKnoll Price Performance

MLKN opened at $16.50 on Friday. The firm has a market cap of $1.13 billion, a P/E ratio of 117.86, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 1.64. The business has a 50 day moving average price of $15.83 and a 200 day moving average price of $17.70. MillerKnoll, Inc. has a twelve month low of $13.77 and a twelve month high of $23.18.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, March 25th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.02). MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%. The company had revenue of $926.60 million for the quarter, compared to analyst estimates of $941.95 million. During the same quarter last year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts forecast that MillerKnoll, Inc. will post 1.83 EPS for the current year.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Saturday, May 30th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 29th. MillerKnoll’s dividend payout ratio is currently 535.71%.

MillerKnoll Company Profile

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.