Fmr LLC Purchases 35,054 Shares of MillerKnoll, Inc. (NASDAQ:MLKN)

Fmr LLC grew its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 939.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,784 shares of the company’s stock after acquiring an additional 35,054 shares during the period. Fmr LLC owned 0.06% of MillerKnoll worth $960,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in MillerKnoll by 289.0% during the third quarter. Intech Investment Management LLC now owns 62,473 shares of the company’s stock worth $1,547,000 after purchasing an additional 46,413 shares during the period. Meeder Asset Management Inc. bought a new position in shares of MillerKnoll during the 3rd quarter worth approximately $84,000. Quest Partners LLC grew its position in shares of MillerKnoll by 72.2% during the 3rd quarter. Quest Partners LLC now owns 11,360 shares of the company’s stock worth $281,000 after buying an additional 4,763 shares during the period. Empowered Funds LLC increased its stake in shares of MillerKnoll by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 359,144 shares of the company’s stock valued at $8,892,000 after acquiring an additional 18,224 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of MillerKnoll during the 3rd quarter valued at $723,000. 87.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

MillerKnoll Stock Up 1.0 %

MLKN stock opened at $25.37 on Tuesday. The stock’s 50 day simple moving average is $24.40 and its 200 day simple moving average is $26.22. MillerKnoll, Inc. has a fifty-two week low of $22.35 and a fifty-two week high of $31.73. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. The company has a market cap of $1.75 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20.

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

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, November 29th. MillerKnoll’s dividend payout ratio is currently 86.21%.

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.