Prudential Financial Inc. Cuts Stock Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

Prudential Financial Inc. reduced its position in MillerKnoll, Inc. (NASDAQ:MLKN) by 32.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,187 shares of the company’s stock after selling 35,900 shares during the period. Prudential Financial Inc.’s holdings in MillerKnoll were worth $1,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLKN. FMR LLC raised its stake in shares of MillerKnoll by 939.8% in the third quarter. FMR LLC now owns 38,784 shares of the company’s stock worth $960,000 after purchasing an additional 35,054 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in MillerKnoll by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,420 shares of the company’s stock worth $3,947,000 after buying an additional 2,449 shares during the last quarter. Verition Fund Management LLC bought a new position in MillerKnoll during the 3rd quarter valued at about $210,000. Wellington Management Group LLP boosted its holdings in shares of MillerKnoll by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 574,822 shares of the company’s stock valued at $14,233,000 after acquiring an additional 6,576 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of MillerKnoll by 56.6% in the third quarter. Jane Street Group LLC now owns 90,960 shares of the company’s stock worth $2,252,000 after acquiring an additional 32,861 shares during the period. 87.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MLKN. StockNews.com cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Sidoti raised MillerKnoll to a “hold” rating in a report on Tuesday, March 25th.

MillerKnoll Stock Performance

MLKN opened at $17.38 on Friday. The company’s 50 day moving average is $20.85 and its 200 day moving average is $22.78. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 0.89 and a beta of 1.05. MillerKnoll, Inc. has a 12-month low of $16.24 and a 12-month high of $31.73.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The firm had revenue of $876.20 million during the quarter, compared to the consensus estimate of $918.88 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities research analysts predict that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s dividend payout ratio (DPR) is currently 178.57%.

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.