Front Street Capital Management Inc. Trims Stock Position in MillerKnoll, Inc. (NASDAQ:MLKN)

Front Street Capital Management Inc. trimmed its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 676,915 shares of the company’s stock after selling 7,553 shares during the quarter. MillerKnoll makes up approximately 3.4% of Front Street Capital Management Inc.’s holdings, making the stock its 9th largest position. Front Street Capital Management Inc. owned 0.94% of MillerKnoll worth $17,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of MillerKnoll by 6.0% during the second quarter. Bank of Montreal Can now owns 13,551 shares of the company’s stock worth $359,000 after purchasing an additional 768 shares during the period. Public Sector Pension Investment Board raised its stake in MillerKnoll by 5.6% during the second quarter. Public Sector Pension Investment Board now owns 157,620 shares of the company’s stock worth $4,175,000 after acquiring an additional 8,362 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in 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 acquiring an additional 862 shares during the last quarter. Pacer Advisors Inc. boosted its stake in MillerKnoll by 15.3% in the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock valued at $106,370,000 after acquiring an additional 532,427 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of MillerKnoll during the second quarter valued at approximately $425,000. 87.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded MillerKnoll from a “strong-buy” rating to a “buy” rating in a report on Monday.

MillerKnoll Trading Up 3.3 %

Shares of NASDAQ:MLKN opened at $24.28 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average price is $28.38 and its 200 day moving average price is $27.40. The company has a market cap of $1.74 billion, a PE ratio of 21.87, a P/E/G ratio of 0.99 and a beta of 1.18. MillerKnoll, Inc. has a fifty-two week low of $19.10 and a fifty-two week high of $31.73.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). The business had revenue of $861.50 million for the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a return on equity of 10.94% and a net margin of 2.27%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Sell-side analysts anticipate that MillerKnoll, Inc. will post 2.21 earnings per share for the current year.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Saturday, August 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, August 30th. MillerKnoll’s dividend payout ratio is presently 67.57%.

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.