The Manufacturers Life Insurance Company Buys New Shares in MillerKnoll, Inc. $MLKN

The Manufacturers Life Insurance Company purchased a new stake in MillerKnoll, Inc. (NASDAQ:MLKN) during the 2nd quarter, Holdings Channel reports. The firm purchased 28,156 shares of the company’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fiduciary Financial Advisors acquired a new position in shares of MillerKnoll during the 2nd quarter worth about $46,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of MillerKnoll in the second quarter valued at about $958,000. Quantbot Technologies LP acquired a new stake in shares of MillerKnoll in the second quarter valued at about $29,000. Landscape Capital Management L.L.C. bought a new stake in MillerKnoll during the second quarter worth about $2,227,000. Finally, Ieq Capital LLC bought a new stake in MillerKnoll during the second quarter worth about $509,000. 87.50% of the stock is owned by institutional investors.

MillerKnoll Price Performance

MillerKnoll stock opened at $22.92 on Monday. The firm has a market capitalization of $1.58 billion, a PE ratio of 17.36, a P/E/G ratio of 0.95 and a beta of 1.36. The company’s 50-day moving average is $22.37 and its 200-day moving average is $18.87. MillerKnoll, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $24.71. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 0.90.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $973.87 million. During the same period last year, the business posted $0.60 EPS. MillerKnoll’s revenue was up 4.4% on a year-over-year basis. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. Sell-side analysts anticipate that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Saturday, August 29th will be paid a $0.1875 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.75 annualized dividend and a yield of 3.3%. MillerKnoll’s dividend payout ratio is currently 56.82%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings raised MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Wall Street Zen cut MillerKnoll from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Zacks Research raised MillerKnoll from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

MillerKnoll Profile

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.