The Manufacturers Life Insurance Company Reduces Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

The Manufacturers Life Insurance Company lowered its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 5.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 37,873 shares of the company’s stock after selling 2,396 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of MillerKnoll worth $938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of MillerKnoll by 254.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock worth $32,000 after buying an additional 862 shares in the last quarter. GAMMA Investing LLC grew its position in shares of MillerKnoll by 35.0% in the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in MillerKnoll during the third quarter worth approximately $84,000. Innealta Capital LLC acquired a new position in MillerKnoll during the second quarter worth $87,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in MillerKnoll by 99.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock valued at $112,000 after buying an additional 2,316 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.

MillerKnoll Stock Down 1.2 %

Shares of NASDAQ MLKN opened at $24.64 on Friday. The company has a market capitalization of $1.70 billion, a P/E ratio of 28.32, a P/E/G ratio of 0.96 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. The company has a 50 day simple moving average of $24.39 and a 200-day simple moving average of $26.23. MillerKnoll, Inc. has a 1 year low of $22.35 and a 1 year high of $31.73.

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

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Saturday, November 30th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, November 29th. MillerKnoll’s payout ratio is 86.21%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a research 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.