HighTower Advisors LLC Reduces Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

HighTower Advisors LLC trimmed its position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 41.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,181 shares of the company’s stock after selling 6,477 shares during the quarter. HighTower Advisors LLC’s holdings in MillerKnoll were worth $226,000 at the end of the most recent reporting period.

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

MillerKnoll Price Performance

MillerKnoll stock opened at $22.03 on Wednesday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.96 and a beta of 1.20. MillerKnoll, Inc. has a 12-month low of $20.89 and a 12-month high of $31.73. 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 firm’s 50-day moving average is $24.34 and its two-hundred day moving average is $26.08.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $970.40 million for the quarter, compared to analyst estimates of $959.60 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. MillerKnoll’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. Equities analysts predict that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be paid a $0.1875 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.75 annualized dividend and a yield of 3.40%. MillerKnoll’s payout ratio is currently 82.42%.

Analyst Ratings Changes

Separately, StockNews.com raised MillerKnoll from a “hold” rating to a “buy” rating in a research note on Friday, December 20th.

MillerKnoll Company 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.