MillerKnoll (NASDAQ:MLKN) Reaches New 52-Week High – Here’s What Happened

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price reached a new 52-week high during mid-day trading 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.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of MillerKnoll from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Zacks Research raised shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded MillerKnoll from a “buy” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

MillerKnoll Price Performance

The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1.61 billion, a P/E ratio of 17.90, a P/E/G ratio of 0.91 and a beta of 1.36. The business’s 50 day moving average is $18.05 and its two-hundred day moving average is $18.27.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $973.87 million. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. As a group, analysts anticipate that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 28th. MillerKnoll’s dividend payout ratio is 56.82%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in shares of MillerKnoll by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock worth $38,000 after purchasing an additional 519 shares in the last quarter. ProShare Advisors LLC raised its holdings in MillerKnoll by 4.4% during the fourth quarter. ProShare Advisors LLC now owns 13,308 shares of the company’s stock worth $243,000 after buying an additional 558 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of MillerKnoll by 9.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,676 shares of the company’s stock valued at $140,000 after buying an additional 690 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of MillerKnoll by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 38,972 shares of the company’s stock valued at $711,000 after buying an additional 767 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of MillerKnoll by 166.5% during the second quarter. Versant Capital Management Inc now owns 1,250 shares of the company’s stock valued at $26,000 after buying an additional 781 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

About MillerKnoll

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.