Gallacher Capital Management LLC Raises Stake in MillerKnoll, Inc. (NASDAQ:MLKN)

Gallacher Capital Management LLC raised its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,004 shares of the company’s stock after buying an additional 2,908 shares during the quarter. Gallacher Capital Management LLC’s holdings in MillerKnoll were worth $452,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in shares of MillerKnoll by 458.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after acquiring an additional 1,201 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in MillerKnoll by 228.8% in the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock valued at $47,000 after purchasing an additional 1,448 shares during the last quarter. KBC Group NV boosted its holdings in MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock valued at $75,000 after purchasing an additional 1,281 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in MillerKnoll in the 3rd quarter valued at about $84,000. Finally, Verition Fund Management LLC acquired a new position in MillerKnoll in the 3rd quarter valued at about $210,000. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded MillerKnoll from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

MillerKnoll Stock Up 1.2 %

Shares of MLKN opened at $19.13 on Friday. The company’s 50-day moving average price is $21.75 and its 200 day moving average price is $23.70. MillerKnoll, Inc. has a 12-month low of $18.89 and a 12-month high of $31.73. 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 firm has a market cap of $1.30 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The firm had revenue of $970.40 million for the quarter, compared to analyst estimates of $959.60 million. During the same period in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that MillerKnoll, Inc. will post 2.12 earnings per share for the current year.

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, February 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.92%. MillerKnoll’s dividend payout ratio is currently 82.42%.

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.