Verdence Capital Advisors LLC Trims Holdings in MillerKnoll, Inc. (NASDAQ:MLKN)

Verdence Capital Advisors LLC reduced its stake in shares of MillerKnoll, Inc. (NASDAQ:MLKN) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,895 shares of the company’s stock after selling 989 shares during the quarter. Verdence Capital Advisors LLC’s holdings in MillerKnoll were worth $237,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. purchased a new stake in MillerKnoll in the 4th quarter valued at about $40,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MillerKnoll by 7.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,262 shares of the company’s stock valued at $434,000 after purchasing an additional 1,191 shares during the period. Mackenzie Financial Corp bought a new position in MillerKnoll in the fourth quarter worth approximately $340,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in MillerKnoll during the 4th quarter valued at $367,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of MillerKnoll in the 4th quarter worth $982,000. 87.50% of the stock is currently owned by institutional investors.

MillerKnoll Price Performance

NASDAQ MLKN opened at $26.16 on Wednesday. The company has a market cap of $1.87 billion, a PE ratio of 26.97, a P/E/G ratio of 1.10 and a beta of 1.29. MillerKnoll, Inc. has a 52-week low of $13.20 and a 52-week high of $31.33. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.59. The firm’s 50 day moving average price is $28.32 and its 200-day moving average price is $26.82.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, March 27th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. MillerKnoll had a return on equity of 9.61% and a net margin of 1.96%. The firm had revenue of $872.30 million during the quarter, compared to analyst estimates of $909.55 million. During the same period in the previous year, the company posted $0.54 EPS. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. Sell-side analysts forecast that MillerKnoll, Inc. will post 1.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered MillerKnoll from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 28th.

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.