PNC Financial Services Group Inc. Increases Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

PNC Financial Services Group Inc. increased its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 387.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,119 shares of the company’s stock after buying an additional 12,015 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MillerKnoll were worth $403,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in MillerKnoll by 100.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,140 shares of the company’s stock valued at $30,000 after acquiring an additional 570 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of MillerKnoll by 1,117.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,330 shares during the period. Daiwa Securities Group Inc. purchased a new position in MillerKnoll in the fourth quarter valued at approximately $40,000. Quadrant Capital Group LLC grew its holdings in MillerKnoll by 46.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,537 shares of the company’s stock valued at $41,000 after purchasing an additional 488 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of MillerKnoll in the fourth quarter valued at $63,000. Institutional investors own 87.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded MillerKnoll from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

MillerKnoll Trading Up 0.3 %

NASDAQ:MLKN opened at $26.49 on Friday. The company has a market cap of $1.90 billion, a P/E ratio of 23.86, a P/E/G ratio of 0.95 and a beta of 1.26. MillerKnoll, Inc. has a 1 year low of $14.32 and a 1 year high of $31.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.59 and a quick ratio of 0.95. The stock’s fifty day moving average price is $26.40 and its two-hundred day moving average price is $27.27.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, June 26th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.14. MillerKnoll had a return on equity of 10.89% and a net margin of 2.27%. The business had revenue of $888.90 million during the quarter, compared to analyst estimates of $898.65 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, analysts expect that MillerKnoll, Inc. will post 2.3 EPS for the current year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Saturday, June 1st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.83%. MillerKnoll’s dividend payout ratio (DPR) is currently 67.57%.

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.