Empowered Funds LLC Purchases New Holdings in MillerKnoll, Inc. $MLKN

Empowered Funds LLC acquired a new stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 335,766 shares of the company’s stock, valued at approximately $6,870,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Larch Capital Partners LLC acquired a new position in shares of MillerKnoll in the second quarter valued at approximately $243,000. Public Employees Retirement System of Ohio purchased a new stake in shares of MillerKnoll during the second quarter worth approximately $93,000. Bank of America Corp DE acquired a new stake in shares of MillerKnoll during the second quarter worth $11,499,000. Freestone Grove Partners LP acquired a new stake in shares of MillerKnoll during the second quarter worth $133,000. Finally, Jupiter Topco LLC purchased a new position in MillerKnoll in the 2nd quarter valued at $659,000. 87.50% of the stock is owned by institutional investors and hedge funds.

MillerKnoll Price Performance

MLKN opened at $23.13 on Monday. The business has a 50 day simple moving average of $21.89 and a 200-day simple moving average of $18.86. MillerKnoll, Inc. has a 12 month low of $13.77 and a 12 month high of $24.71. The stock has a market capitalization of $1.58 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.95 and a beta of 1.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 0.90.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $973.87 million. During the same quarter in the prior year, the business posted $0.60 earnings per share. MillerKnoll’s revenue was up 4.4% compared to the same quarter last year. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. On average, equities analysts anticipate that MillerKnoll, Inc. will post 2.02 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Saturday, August 29th will be paid a $0.1875 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.2%. MillerKnoll’s dividend payout ratio (DPR) is 56.82%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Weiss Ratings raised shares of MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

MillerKnoll 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.