MillerKnoll (NASDAQ:MLKN) Trading Down 3.1% – What’s Next?

MillerKnoll, Inc. (NASDAQ:MLKN) shares fell 3.1% during trading on Friday . The company traded as low as $22.25 and last traded at $22.29. 516,167 shares traded hands during trading, a decline of 20% from the average session volume of 641,747 shares. The stock had previously closed at $23.00.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of MillerKnoll from a “buy” rating to a “hold” rating in a report on Thursday, October 10th.

MillerKnoll Price Performance

The stock has a market cap of $1.56 billion, a PE ratio of 25.98, a P/E/G ratio of 0.96 and a beta of 1.20. 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 firm’s 50 day moving average price is $24.42 and its two-hundred day moving average price is $26.15.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The business had revenue of $970.40 million for the quarter, compared to analysts’ expectations of $959.60 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts expect that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 annualized dividend and a yield of 3.32%. MillerKnoll’s dividend payout ratio is currently 86.21%.

Institutional Investors Weigh In On MillerKnoll

Several large investors have recently added to or reduced their stakes in MLKN. Pacer Advisors Inc. boosted its stake in MillerKnoll by 15.3% in the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after buying an additional 532,427 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in MillerKnoll by 157.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock worth $21,110,000 after acquiring an additional 521,318 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in MillerKnoll by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after purchasing an additional 377,121 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of MillerKnoll by 127.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 547,540 shares of the company’s stock worth $13,557,000 after acquiring an additional 307,210 shares in the last quarter. Finally, Forager Capital Management LLC boosted its position in shares of MillerKnoll by 45.9% during the third quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock valued at $23,617,000 after purchasing an additional 300,000 shares in the last quarter. Institutional investors own 87.50% of the company’s stock.

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.