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

MillerKnoll, Inc. (NASDAQ:MLKN) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $17.36 and last traded at $17.44, with a volume of 353543 shares trading hands. The stock had previously closed at $19.22.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Sidoti upgraded MillerKnoll to a “hold” rating in a research note 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 Stock Performance

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 0.89 and a beta of 1.22. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $20.85 and a 200-day simple moving average of $22.81.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The business had revenue of $876.20 million for the quarter, compared to analyst estimates of $918.88 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s dividend payout ratio is presently 178.57%.

Institutional Investors Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MLKN. Smartleaf Asset Management LLC increased its position in shares of MillerKnoll by 458.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after buying an additional 1,201 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of MillerKnoll by 228.8% in the fourth quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock worth $47,000 after acquiring an additional 1,448 shares in the last quarter. Studio Investment Management LLC increased its holdings in shares of MillerKnoll by 29.9% in the fourth quarter. Studio Investment Management LLC now owns 2,149 shares of the company’s stock worth $49,000 after acquiring an additional 495 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of MillerKnoll by 793.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock valued at $50,000 after purchasing an additional 1,952 shares in the last quarter. Finally, KBC Group NV grew its position in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock valued at $75,000 after purchasing an additional 1,281 shares during the period. 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.