MillerKnoll (NASDAQ:MLKN) Sets New 1-Year High – Here’s What Happened

MillerKnoll, Inc. (NASDAQ:MLKN)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $23.41 and last traded at $23.4040, with a volume of 30450 shares changing hands. The stock had previously closed at $22.56.

Wall Street Analyst Weigh In

Several research firms have issued reports on MLKN. Wall Street Zen lowered shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Sunday. Weiss Ratings raised shares of MillerKnoll from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Finally, Zacks Research upgraded shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, MillerKnoll presently has a consensus rating of “Hold”.

MillerKnoll Stock Performance

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 0.97 and a beta of 1.36. The company’s fifty day simple moving average is $18.39 and its 200 day simple moving average is $18.33. The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $973.87 million. During the same quarter last year, the company posted $0.60 EPS. MillerKnoll’s quarterly revenue was up 4.4% compared to the same quarter last year. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. On average, equities research analysts expect that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.3%. MillerKnoll’s dividend payout ratio is presently 56.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in MillerKnoll by 166.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,250 shares of the company’s stock worth $26,000 after buying an additional 781 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of MillerKnoll in the first quarter valued at about $26,000. Osaic Holdings Inc. grew its stake in shares of MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after acquiring an additional 519 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in MillerKnoll during the fourth quarter worth about $46,000. Finally, Harbour Investments Inc. raised its stake in MillerKnoll by 47.7% in the 4th quarter. Harbour Investments Inc. now owns 3,095 shares of the company’s stock worth $57,000 after purchasing an additional 1,000 shares in the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

MillerKnoll Company Profile

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.