Raymond James Financial Inc. Makes New Investment in MillerKnoll, Inc. (NASDAQ:MLKN)

Raymond James Financial Inc. acquired a new stake in MillerKnoll, Inc. (NASDAQ:MLKN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 34,233 shares of the company’s stock, valued at approximately $773,000.

Other large investors also recently modified their holdings of the company. FMR LLC boosted its stake in MillerKnoll by 939.8% in the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock valued at $960,000 after buying an additional 35,054 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 valued at $3,947,000 after purchasing an additional 2,449 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of MillerKnoll in the 3rd quarter worth about $210,000. Wellington Management Group LLP grew its holdings in shares of MillerKnoll by 1.2% in the 3rd quarter. Wellington Management Group LLP now owns 574,822 shares of the company’s stock worth $14,233,000 after purchasing an additional 6,576 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of MillerKnoll by 56.6% during the 3rd quarter. Jane Street Group LLC now owns 90,960 shares of the company’s stock worth $2,252,000 after purchasing an additional 32,861 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.

MillerKnoll Price Performance

Shares of MLKN stock opened at $17.38 on Friday. MillerKnoll, Inc. has a 52 week low of $16.24 and a 52 week high of $31.73. The stock has a market capitalization of $1.18 billion, a PE ratio of 19.10, a PEG ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60. The stock’s fifty day moving average is $20.85 and its 200-day moving average is $22.78.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The business had revenue of $876.20 million for the quarter, compared to the consensus estimate of $918.88 million. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. Equities research analysts expect that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MLKN. Sidoti raised shares of MillerKnoll to a “hold” rating in a research note on Tuesday, March 25th. StockNews.com downgraded MillerKnoll from a “buy” rating to a “hold” rating in a report on Saturday, March 29th.

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.