Charles Schwab Investment Management Inc. Cuts Stock Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

Charles Schwab Investment Management Inc. trimmed its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,270,602 shares of the company’s stock after selling 25,040 shares during the period. Charles Schwab Investment Management Inc. owned 1.84% of MillerKnoll worth $31,460,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in shares of MillerKnoll by 15.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after buying an additional 532,427 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of MillerKnoll by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after buying an additional 377,121 shares in the last quarter. Hennessy Advisors Inc. grew its stake in shares of MillerKnoll by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock worth $31,226,000 after buying an additional 180,500 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of MillerKnoll during the 2nd quarter worth about $2,633,000. Finally, State of New Jersey Common Pension Fund D bought a new position in MillerKnoll during the 2nd quarter valued at about $1,901,000. 87.50% of the stock is owned by hedge funds and other institutional investors.

MillerKnoll Price Performance

MillerKnoll stock opened at $25.44 on Wednesday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. MillerKnoll, Inc. has a 1 year low of $22.35 and a 1 year high of $31.73. The firm has a 50-day moving average of $24.27 and a two-hundred day moving average of $26.31.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly 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). MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The business had revenue of $861.50 million during the quarter, compared to analysts’ expectations of $889.38 million. During the same period in the previous year, the company posted $0.37 EPS. MillerKnoll’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, research analysts forecast that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be given 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 yield of 2.95%. MillerKnoll’s payout ratio is 86.21%.

Analyst Upgrades and Downgrades

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

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.