MillerKnoll (NASDAQ:MLKN) Sets New 12-Month Low – Here’s What Happened

MillerKnoll, Inc. (NASDAQ:MLKN) shares hit a new 52-week low on Thursday . The stock traded as low as $21.63 and last traded at $22.81, with a volume of 182416 shares trading hands. The stock had previously closed at $24.33.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of MillerKnoll from a “hold” rating to a “buy” rating in a research note on Friday.

MillerKnoll Price Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. The stock has a market capitalization of $1.55 billion, a P/E ratio of 25.74, a PEG ratio of 0.96 and a beta of 1.20. The stock’s fifty day moving average is $24.39 and its 200-day moving average is $26.12.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The company had revenue of $970.40 million during the quarter, compared to the consensus estimate of $959.60 million. During the same quarter in the prior year, the company posted $0.59 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio is 86.21%.

Institutional Investors Weigh In On MillerKnoll

A number of hedge funds have recently bought and sold shares of MLKN. EverSource Wealth Advisors LLC increased its position in MillerKnoll by 254.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock worth $32,000 after acquiring an additional 862 shares during the period. GAMMA Investing LLC increased its position in shares of MillerKnoll by 35.0% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $41,000 after purchasing an additional 426 shares during the period. Innealta Capital LLC bought a new position in MillerKnoll in the second quarter worth $87,000. Meeder Asset Management Inc. acquired a new stake in MillerKnoll during the third quarter worth $84,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of MillerKnoll by 99.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock valued at $112,000 after buying an additional 2,316 shares in the last quarter. 87.50% of the stock is currently owned by 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.