HighTower Advisors LLC Cuts Stock Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

HighTower Advisors LLC cut its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 41.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,181 shares of the company’s stock after selling 6,477 shares during the period. HighTower Advisors LLC’s holdings in MillerKnoll were worth $226,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in MillerKnoll by 254.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after acquiring an additional 862 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of MillerKnoll by 35.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after purchasing an additional 426 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of MillerKnoll in the 3rd quarter valued at about $84,000. Innealta Capital LLC purchased a new stake in shares of MillerKnoll during the 2nd quarter worth about $87,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of MillerKnoll by 99.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock worth $112,000 after purchasing an additional 2,316 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised shares of MillerKnoll from a “hold” rating to a “buy” rating in a research report on Friday, December 20th.

MillerKnoll Stock Performance

NASDAQ:MLKN opened at $22.03 on Wednesday. The firm’s fifty day simple moving average is $24.34 and its 200 day simple moving average is $26.08. 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, Inc. has a twelve month low of $20.89 and a twelve month high of $31.73. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 0.96 and a beta of 1.20.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The company had revenue of $970.40 million for the quarter, compared to analysts’ expectations of $959.60 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that MillerKnoll, Inc. will post 2.17 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 3.40%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio is presently 82.42%.

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.