MillerKnoll (NASDAQ:MLKN) Sets New 1-Year Low – Here’s Why

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.31 and last traded at $15.38, with a volume of 37329 shares changing hands. The stock had previously closed at $15.72.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Sidoti upgraded shares of MillerKnoll to a “hold” rating in a research report on Tuesday, March 25th. StockNews.com cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th.

MillerKnoll Price Performance

The business’s fifty day moving average is $19.46 and its 200-day moving average is $22.07. The firm has a market cap of $1.04 billion, a PE ratio of 16.86, a P/E/G ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99.

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

Institutional Trading of MillerKnoll

A number of hedge funds have recently bought and sold shares of MLKN. Jane Street Group LLC boosted its holdings in MillerKnoll by 56.6% in the 3rd quarter. Jane Street Group LLC now owns 90,960 shares of the company’s stock worth $2,252,000 after buying an additional 32,861 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of MillerKnoll by 458.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after purchasing an additional 1,201 shares during the period. Amundi increased its holdings in MillerKnoll by 207.3% during the 4th quarter. Amundi now owns 40,433 shares of the company’s stock worth $884,000 after purchasing an additional 27,276 shares during the period. Barclays PLC lifted its position in shares of MillerKnoll by 37.7% in the 3rd quarter. Barclays PLC now owns 119,389 shares of the company’s stock worth $2,957,000 after purchasing an additional 32,686 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of MillerKnoll by 5.1% during the fourth quarter. Empowered Funds LLC now owns 377,522 shares of the company’s stock valued at $8,528,000 after buying an additional 18,378 shares during the last quarter. Hedge funds and other institutional investors 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.