MillerKnoll Inc (MLKN, Financial), formerly known as Herman Miller Inc, is a global provider of interior furnishings. With a diverse product portfolio sold through various channels including independent contract furniture dealers, direct customer sales, and online stores, the company has established a significant presence in the international market. Despite recent fluctuations in its stock value, MillerKnoll Inc's institutional and insider ownership trends, as well as its earnings potential, offer valuable insights for potential investors.
Ownership Breakdown and Stock Performance
As of the latest data, MillerKnoll Inc (MLKN, Financial) has 74.84 million outstanding shares. Institutional ownership accounts for 58.38 million shares or 78% of the total, while insiders hold 1.26 million shares, representing 1.68% of the total shares.
The company's stock value has seen a decrease of approximately 20.41% over the past week. However, it's worth noting that the stock has gained 62.48% over the past three months, indicating potential for recovery. The company's market cap has also seen fluctuations, rising to $1.43 billion in the recent quarter from $1.03 billion in the preceding one.
Institutional Ownership and Key Players
MillerKnoll Inc's institutional ownership history provides insights into the confidence levels of major market players in the company. As of August 31, 2023, the institutional ownership level stands at 78%, a slight decrease from 80.91% as of May 31, 2023, and a noticeable drop from 99.77% a year ago.
Among the significant stakeholders, HOTCHKIS & WILEY (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), and Jefferies Group (Trades, Portfolio) are the top fund managers owning MillerKnoll Inc's stock, with 1.32%, 0.02%, and 0.02% of shares outstanding respectively.
Earnings Analysis: Past and Future
Over the past three years, MillerKnoll Inc's Ebitda growth has averaged 40.1% per year, outperforming 88.57% of companies in the Furnishings, Fixtures & Appliances industry. Looking ahead, the company's estimated earnings growth is projected at 12% per year, a promising figure compared to the earnings growth of 0% over the past three years.
Insider Ownership and Activities
As of August 31, 2023, MillerKnoll Inc's insider ownership stands at approximately 1.68%, an increase from 1.3% a year ago. This indicates a growing confidence among the company's board directors and C-level employees in its operations and future prospects.
Over the past three months, MillerKnoll Inc has seen four insider buy transactions, further demonstrating the insiders' faith in the company's potential.
Conclusion
In the dynamic world of stocks, understanding the nuances of ownership and earnings is crucial. MillerKnoll Inc's recent performance serves as a case study in how major players react to market shifts. Their movements offer valuable insights for potential investors. As always, a comprehensive approach, combining both past performance and future projections, remains key to making informed investment decisions.
