MillerKnoll (NASDAQ:MLKN) Shares Gap Up – Here’s Why

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $18.34, but opened at $19.51. MillerKnoll shares last traded at $20.12, with a volume of 315,301 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MLKN. Sidoti upgraded shares of MillerKnoll to a “hold” rating in a report on Tuesday. StockNews.com cut MillerKnoll from a “buy” rating to a “hold” rating in a research report on Saturday.

MillerKnoll Stock Down 2.7 %

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 firm’s 50-day moving average price is $21.22 and its two-hundred day moving average price is $23.09. The firm has a market cap of $1.35 billion, a PE ratio of 21.71, a P/E/G ratio of 0.89 and a beta of 1.22.

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

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s payout ratio is currently 82.42%.

Institutional Investors Weigh In On MillerKnoll

Several hedge funds have recently made changes to their positions in MLKN. Smartleaf Asset Management LLC raised its stake in 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 lifted its holdings in shares of MillerKnoll by 228.8% during the fourth quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock worth $47,000 after purchasing an additional 1,448 shares during the period. Studio Investment Management LLC grew its position in MillerKnoll by 29.9% in the 4th quarter. Studio Investment Management LLC now owns 2,149 shares of the company’s stock valued at $49,000 after buying an additional 495 shares during the last quarter. Sterling Capital Management LLC raised its position in MillerKnoll by 793.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock worth $50,000 after buying an additional 1,952 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after acquiring an additional 1,281 shares during the period. Institutional investors and hedge funds own 87.50% of the company’s stock.

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.