MillerKnoll, Inc. (NASDAQ:MLKN) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 49,716 shares of the company’s stock after selling 6,708 shares during the quarter. Kingsview Wealth Management LLC’s holdings in MillerKnoll were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in MillerKnoll by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after purchasing an additional 226,792 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of MillerKnoll by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 60,650 shares of the company’s stock worth $1,502,000 after buying an additional 2,544 shares during the period. Mather Group LLC. purchased a new position in shares of MillerKnoll during the second quarter worth about $30,000. Harbor Capital Advisors Inc. increased its position in MillerKnoll by 270.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 8,150 shares of the company’s stock valued at $216,000 after acquiring an additional 5,948 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in MillerKnoll during the 2nd quarter valued at approximately $85,000. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

MillerKnoll Stock Performance

NASDAQ:MLKN opened at $25.25 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 0.94 and a beta of 1.18. The firm’s fifty day moving average price is $24.32 and its 200 day moving average price is $26.42. MillerKnoll, Inc. has a 1-year low of $22.35 and a 1-year high of $31.73.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). The firm had revenue of $861.50 million during the quarter, compared to analysts’ expectations of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. On average, sell-side analysts expect that MillerKnoll, Inc. will post 2.17 EPS for the current year.

MillerKnoll Announces Dividend

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 dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio is presently 86.21%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research note 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.