Edgestream Partners L.P. Cuts Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Edgestream Partners L.P. reduced its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 10.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,758 shares of the company’s stock after selling 3,814 shares during the period. Edgestream Partners L.P.’s holdings in MillerKnoll were worth $717,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of MillerKnoll in the 4th quarter worth about $773,000. Victory Capital Management Inc. boosted its holdings in shares of MillerKnoll by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 275,948 shares of the company’s stock worth $6,234,000 after buying an additional 40,928 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of MillerKnoll by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,312,945 shares of the company’s stock worth $29,659,000 after buying an additional 42,343 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of MillerKnoll by 458.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock worth $33,000 after buying an additional 1,201 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in MillerKnoll by 21.5% in the 4th quarter. Handelsbanken Fonder AB now owns 20,877 shares of the company’s stock valued at $472,000 after acquiring an additional 3,700 shares during the period. 87.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MillerKnoll Trading Down 2.1 %

Shares of MillerKnoll stock opened at $19.56 on Thursday. MillerKnoll, Inc. has a 52-week low of $19.42 and a 52-week high of $31.73. The stock’s 50-day simple moving average is $21.88 and its 200 day simple moving average is $23.86. The stock has a market capitalization of $1.33 billion, a P/E ratio of 21.49, a P/E/G ratio of 0.89 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data 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. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The business had revenue of $970.40 million for the quarter, compared to analysts’ expectations of $959.60 million. During the same period in the previous year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, February 28th. MillerKnoll’s dividend payout ratio is presently 82.42%.

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.