MillerKnoll (NASDAQ:MLKN) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of MillerKnoll (NASDAQ:MLKN) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

MLKN has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d)” rating on shares of MillerKnoll in a research report on Monday. Wall Street Zen raised shares of MillerKnoll from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

MillerKnoll Price Performance

Shares of MLKN stock traded up $0.14 during midday trading on Monday, reaching $15.84. 34,893 shares of the company traded hands, compared to its average volume of 588,400. The firm’s 50 day simple moving average is $16.06 and its two-hundred day simple moving average is $18.23. The firm has a market cap of $1.09 billion, a PE ratio of -63.36, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.67 and a quick ratio of 0.96. MillerKnoll has a 1-year low of $13.77 and a 1-year high of $25.94.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, February 16th. The company reported $0.35 earnings per share for the quarter. The firm had revenue of $92.95 million during the quarter. MillerKnoll had a positive return on equity of 10.96% and a negative net margin of 0.41%. On average, equities research analysts expect that MillerKnoll will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Saturday, November 29th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, November 28th. MillerKnoll’s dividend payout ratio is currently -300.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in shares of MillerKnoll by 36.5% during the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock worth $38,000 after buying an additional 519 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of MillerKnoll during the first quarter valued at approximately $70,000. Johnson Financial Group Inc. acquired a new stake in MillerKnoll during the third quarter worth approximately $72,000. Canada Pension Plan Investment Board acquired a new stake in MillerKnoll during the second quarter worth approximately $82,000. Finally, Strs Ohio acquired a new position in MillerKnoll in the 3rd quarter valued at $85,000. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

MillerKnoll Company Profile

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.