MillerKnoll, Inc. (MLKN) to Issue Quarterly Dividend of $0.19 on July 15th

MillerKnoll, Inc. (NASDAQ:MLKN) declared a quarterly dividend on Tuesday, April 14th. Stockholders of record on Saturday, May 30th will be given a dividend of 0.1875 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th.

MillerKnoll has raised its dividend by an average of 0.0%per year over the last three years. MillerKnoll has a dividend payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Analysts expect MillerKnoll to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 37.5%.

MillerKnoll Price Performance

MillerKnoll stock opened at $15.82 on Wednesday. MillerKnoll has a 12 month low of $13.77 and a 12 month high of $23.18. The stock’s 50 day moving average is $16.10 and its 200-day moving average is $17.62. The company has a current ratio of 1.64, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 113.00, a PEG ratio of 0.70 and a beta of 1.41.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, March 25th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.02). MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%. The firm had revenue of $926.60 million during the quarter, compared to analyst estimates of $941.95 million. During the same period in the previous year, the company posted $0.44 EPS. MillerKnoll’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that MillerKnoll will post 1.83 EPS for the current year.

Institutional Investors Weigh In On MillerKnoll

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC lifted its stake in shares of MillerKnoll by 92.4% in the 4th quarter. Douglas Lane & Associates LLC now owns 445,145 shares of the company’s stock valued at $8,137,000 after acquiring an additional 213,816 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of MillerKnoll by 27.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company’s stock valued at $46,267,000 after acquiring an additional 541,638 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of MillerKnoll by 711.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 87,330 shares of the company’s stock valued at $1,549,000 after acquiring an additional 76,563 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of MillerKnoll by 755.0% in the 4th quarter. SG Americas Securities LLC now owns 478,727 shares of the company’s stock valued at $8,751,000 after acquiring an additional 422,735 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of MillerKnoll by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 264,533 shares of the company’s stock valued at $4,693,000 after acquiring an additional 33,538 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors.

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.