Principal Financial Group Inc. Increases Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Principal Financial Group Inc. grew its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 358,529 shares of the company’s stock after buying an additional 5,155 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of MillerKnoll worth $8,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLKN. State of New Jersey Common Pension Fund D purchased a new position in MillerKnoll in the 2nd quarter worth approximately $1,901,000. American Century Companies Inc. increased its holdings in shares of MillerKnoll by 2.0% in the 2nd quarter. American Century Companies Inc. now owns 148,180 shares of the company’s stock worth $3,925,000 after purchasing an additional 2,868 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MillerKnoll by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after purchasing an additional 377,121 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of MillerKnoll by 26.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 15,662 shares of the company’s stock valued at $415,000 after purchasing an additional 3,250 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of MillerKnoll by 10.3% during the second quarter. Hsbc Holdings PLC now owns 9,761 shares of the company’s stock valued at $256,000 after buying an additional 908 shares during the last quarter. Institutional investors own 87.50% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised MillerKnoll from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

MillerKnoll Trading Up 2.2 %

Shares of MLKN stock opened at $21.85 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. MillerKnoll, Inc. has a 12-month low of $20.89 and a 12-month high of $31.73. The stock has a market capitalization of $1.49 billion, a P/E ratio of 24.01, a P/E/G ratio of 0.84 and a beta of 1.23. The firm’s 50 day moving average is $23.57 and its 200 day moving average is $25.55.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $970.40 million during the quarter, compared to the consensus estimate of $959.60 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. Research analysts expect that MillerKnoll, Inc. will post 2.12 earnings per share for the current year.

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.