Quest Partners LLC Increases Stock Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Quest Partners LLC increased its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 72.2% in the 3rd quarter, Holdings Channel reports. The firm owned 11,360 shares of the company’s stock after buying an additional 4,763 shares during the period. Quest Partners LLC’s holdings in MillerKnoll were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its position in MillerKnoll by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 359,144 shares of the company’s stock worth $8,892,000 after purchasing an additional 18,224 shares during the period. Versor Investments LP bought a new stake in shares of MillerKnoll in the third quarter worth $723,000. Principal Financial Group Inc. increased its position in MillerKnoll by 1.5% during the third quarter. Principal Financial Group Inc. now owns 358,529 shares of the company’s stock valued at $8,877,000 after acquiring an additional 5,155 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in MillerKnoll by 122.9% during the third quarter. Harbor Capital Advisors Inc. now owns 18,166 shares of the company’s stock valued at $450,000 after acquiring an additional 10,016 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in MillerKnoll by 99.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock valued at $112,000 after acquiring an additional 2,316 shares during the period. Institutional investors own 87.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

MillerKnoll Stock Up 4.1 %

Shares of MLKN stock opened at $25.53 on Tuesday. The company has a 50 day simple moving average of $24.35 and a two-hundred day simple moving average of $26.43. The stock has a market cap of $1.77 billion, a P/E ratio of 28.20, a P/E/G ratio of 0.94 and a beta of 1.18. MillerKnoll, Inc. has a 12 month low of $22.35 and a 12 month high of $31.73. 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 earnings results on Thursday, September 19th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The company had revenue of $861.50 million during the quarter, compared to the consensus estimate of $889.38 million. During the same period in the prior year, the business posted $0.37 earnings per share. MillerKnoll’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts expect that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, November 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.94%. MillerKnoll’s dividend payout ratio (DPR) is presently 86.21%.

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.