Bank of New York Mellon Corp Has $16.89 Million Stock Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

Bank of New York Mellon Corp cut its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 747,594 shares of the company’s stock after selling 78,871 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.10% of MillerKnoll worth $16,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MLKN. Avior Wealth Management LLC increased its stake in shares of MillerKnoll by 228.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock worth $47,000 after acquiring an additional 1,448 shares during the last quarter. KBC Group NV increased its position in MillerKnoll by 62.9% during the fourth quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after buying an additional 1,281 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in MillerKnoll during the third quarter worth $84,000. Verition Fund Management LLC acquired a new position in MillerKnoll during the third quarter worth $210,000. Finally, Quest Partners LLC increased its position in MillerKnoll by 72.2% during the third 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 last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

MillerKnoll Trading Down 2.6 %

MillerKnoll stock opened at $19.98 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.89 and a beta of 1.22. MillerKnoll, Inc. has a one year low of $19.92 and a one year high of $31.73. The company’s fifty day moving average price is $21.94 and its two-hundred day moving average price is $23.89.

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

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Friday, February 28th. MillerKnoll’s dividend payout ratio (DPR) is 82.42%.

Analysts Set New Price Targets

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

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.