Charles Schwab Investment Management Inc. Decreases Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Charles Schwab Investment Management Inc. reduced its holdings in MillerKnoll, Inc. (NASDAQ:MLKN) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,270,602 shares of the company’s stock after selling 25,040 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MillerKnoll were worth $31,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MLKN. Mather Group LLC. purchased a new position in shares of MillerKnoll in the second quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its stake in shares of MillerKnoll by 254.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock worth $32,000 after buying an additional 862 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of MillerKnoll by 35.0% in the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after buying an additional 426 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in MillerKnoll during the third quarter worth about $84,000. Finally, Opal Wealth Advisors LLC acquired a new stake in MillerKnoll during the second quarter worth about $85,000. 87.50% of the stock is owned by hedge funds and other institutional investors.

MillerKnoll Price Performance

MillerKnoll stock opened at $25.44 on Wednesday. MillerKnoll, Inc. has a 12-month low of $22.35 and a 12-month high of $31.73. The stock has a market cap of $1.76 billion, a P/E ratio of 29.24, a PEG ratio of 0.99 and a beta of 1.20. The company has a 50-day moving average price of $24.27 and a 200 day moving average price of $26.31. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The company had revenue of $861.50 million for the quarter, compared to analyst estimates of $889.38 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. MillerKnoll’s revenue was down 6.1% on a year-over-year basis. Sell-side analysts anticipate that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio (DPR) is currently 86.21%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th.

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.