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

Principal Financial Group Inc. lifted its holdings in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 358,529 shares of the company’s stock after acquiring an additional 5,155 shares during the period. Principal Financial Group Inc. owned 0.52% of MillerKnoll worth $8,877,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in MillerKnoll by 2.6% in the first quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after acquiring an additional 226,792 shares during the period. Pacer Advisors Inc. lifted its holdings 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. Dimensional Fund Advisors LP lifted its holdings in MillerKnoll by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after acquiring an additional 377,121 shares during the period. Hennessy Advisors Inc. lifted its holdings in MillerKnoll by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock valued at $31,226,000 after acquiring an additional 180,500 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in MillerKnoll by 5.6% in the second quarter. Public Sector Pension Investment Board now owns 157,620 shares of the company’s stock valued at $4,175,000 after acquiring an additional 8,362 shares during the period. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

MillerKnoll Trading Down 0.5 %

MillerKnoll stock opened at $23.76 on Tuesday. The stock has a market cap of $1.64 billion, a PE ratio of 27.31, a P/E/G ratio of 0.92 and a beta of 1.18. The stock has a 50-day moving average price of $24.62 and a 200 day moving average price of $26.53. MillerKnoll, Inc. has a 52 week low of $22.35 and a 52 week high of $31.73. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings results on Thursday, September 19th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). The business had revenue of $861.50 million during the quarter, compared to analysts’ expectations of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. Equities research analysts predict that MillerKnoll, Inc. will post 2.17 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.16%. MillerKnoll’s dividend payout ratio (DPR) is 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.