Invenomic Capital Management LP Buys New Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Invenomic Capital Management LP bought a new stake in MillerKnoll, Inc. (NASDAQ:MLKN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 97,458 shares of the company’s stock, valued at approximately $2,202,000. Invenomic Capital Management LP owned about 0.14% of MillerKnoll at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MLKN. Smartleaf Asset Management LLC grew its stake in shares of MillerKnoll by 458.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after buying an additional 1,201 shares during the period. Avior Wealth Management LLC increased its position in MillerKnoll by 228.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock worth $47,000 after purchasing an additional 1,448 shares in the last quarter. Sterling Capital Management LLC increased its position in MillerKnoll by 793.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock worth $50,000 after purchasing an additional 1,952 shares in the last quarter. KBC Group NV increased its position in MillerKnoll by 62.9% during the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after purchasing an additional 1,281 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in MillerKnoll during the 4th quarter worth approximately $221,000. Institutional investors and hedge funds own 87.50% of the company’s stock.

MillerKnoll Stock Performance

Shares of MLKN opened at $16.75 on Monday. The business’s fifty day moving average price is $17.71 and its 200 day moving average price is $21.22. MillerKnoll, Inc. has a 12-month low of $15.25 and a 12-month high of $31.73. The stock has a market capitalization of $1.13 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 0.89 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The company had revenue of $876.20 million for the quarter, compared to analyst estimates of $918.88 million. During the same period last year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Sunday, June 1st will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, May 30th. This represents a $0.75 dividend on an annualized basis and a yield of 4.48%. MillerKnoll’s payout ratio is presently 178.57%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MLKN. StockNews.com downgraded shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Sidoti upgraded MillerKnoll to a “hold” rating in a report on Tuesday, March 25th.

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.