Vulcan Value Partners is Bullish on MillerKnoll (MLKN))

1 month ago 29

Soumya Eswaran

Thu, July 30, 2026 astatine 9:04 AM CDT 3 min read

Investment absorption company Vulcan Value Partners recently released its second-quarter 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. Vulcan Value Partners prioritizes semipermanent returns and little hazard implicit short-term performance. In the quarter, the Large Cap Composite (Net) returned 9.5%, the Small Cap Composite (Net) returned 13.3%, the Focus Composite (Net) returned 10.4%, the Focus Plus Composite (Net) returned 10.5%, and the All-Cap Composite (Net) returned 9.0%. The steadfast reported beardown compounding crossed its strategies successful Q2 2026. Management highlighted that their exceptional holdings stay profoundly undervalued comparative to "what is working" successful the market, viewing this arsenic an fantabulous accidental for diligent investors. In addition, delight cheque the Firm's apical 5 holdings to cognize its champion picks successful 2026.

In its Q2 2026 capitalist letter, Vulcan Value Partners highlighted MillerKnoll, Inc. (NASDAQ:MLKN) arsenic a notable contribytor. MillerKnoll, Inc. (NASDAQ:MLKN) designs, manufactures, sells, and distributes interior furnishings. On July 29, 2026, MillerKnoll, Inc. (NASDAQ:MLKN) closed astatine $22.91 per share, reflecting a marketplace capitalization of $1.56 billion. MillerKnoll, Inc. (NASDAQ:MLKN) posted a one-month instrumentality of 6.96%, portion its shares gained 20.71% implicit the past 52 weeks.

Vulcan Value Partners stated the pursuing regarding MillerKnoll, Inc. (NASDAQ:MLKN) successful its Q2 2026 capitalist update:

"MillerKnoll, Inc. (NASDAQ:MLKN) was a worldly contributor to our show successful the quarter, aft being a detractor successful the anterior quarter. Despite the company's beardown stock terms show of late, MillerKnoll remains 1 of our astir discounted businesses. As a result, the institution continues to bid a important value successful our strategy. MillerKnoll's caller operating show exceeded our expectations, astir notably successful its largest and astir profitable North American Contract segment. It generated beardown escaped currency travel and utilized it chiefly to de-lever. As we said successful past quarter's commentary, we person agelong believed that MillerKnoll's premium brands, multi-channel organisation model, and planetary scope reenforce the worth stableness of the business. We proceed to judge that depressed measurement trends successful some its commercialized and residential extremity markets are holding backmost the existent mean net powerfulness of the business, which is materially higher comparative to today's earnings. In the meantime, we ain an iconic company, supported by a beardown equilibrium expanse and a tenured absorption team, astatine a discount to our estimation of intrinsic worth that remains incredibly compelling."

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