Renaissance Technologies LLC Makes New Investment in MillerKnoll, Inc. $MLKN

Renaissance Technologies LLC acquired a new position in shares of MillerKnoll, Inc. (NASDAQ:MLKN) during the 1st quarter, Holdings Channel.com reports. The fund acquired 186,183 shares of the company’s stock, valued at approximately $2,692,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Pzena Investment Management LLC acquired a new position in shares of MillerKnoll in the first quarter valued at $28,858,000. Vanguard Group Inc. boosted its stake in MillerKnoll by 7.9% during the fourth quarter. Vanguard Group Inc. now owns 8,550,194 shares of the company’s stock worth $156,298,000 after buying an additional 623,035 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in MillerKnoll by 27.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company’s stock valued at $46,267,000 after buying an additional 541,638 shares during the period. Wellington Management Group LLP increased its holdings in MillerKnoll by 46.4% in the 4th quarter. Wellington Management Group LLP now owns 1,305,280 shares of the company’s stock valued at $23,861,000 after buying an additional 413,531 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of MillerKnoll by 41.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,259,388 shares of the company’s stock valued at $18,211,000 after buying an additional 366,726 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MLKN shares. Zacks Research raised shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings raised shares of MillerKnoll from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, July 24th. Finally, Wall Street Zen lowered shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

MillerKnoll Stock Performance

MillerKnoll stock opened at $24.49 on Monday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.01 and a beta of 1.35. The stock has a fifty day moving average price of $19.48 and a two-hundred day moving average price of $18.54. MillerKnoll, Inc. has a 52-week low of $13.77 and a 52-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 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 company had revenue of $1 billion for the quarter, compared to the consensus estimate of $973.87 million. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. As a group, analysts anticipate that MillerKnoll, Inc. will post 2.02 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Saturday, August 29th will be given a $0.1875 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a yield of 3.1%. MillerKnoll’s payout ratio is 56.82%.

About MillerKnoll

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.