MillerKnoll (NASDAQ:MLKN) Hits New 1-Year Low – Here’s Why

MillerKnoll, Inc. (NASDAQ:MLKN)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.85 and last traded at $15.87, with a volume of 126191 shares changing hands. The stock had previously closed at $16.28.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MLKN shares. Sidoti raised MillerKnoll to a “hold” rating in a research report on Tuesday, March 25th. StockNews.com lowered shares of MillerKnoll from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th.

MillerKnoll Price Performance

The firm has a 50-day moving average of $19.96 and a 200-day moving average of $22.31. The stock has a market cap of $1.10 billion, a PE ratio of 17.77, a PEG ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $876.20 million during 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 was up .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Research analysts predict that MillerKnoll, Inc. will post 2.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake 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 purchasing an additional 1,201 shares during the last quarter. Avior Wealth Management LLC lifted its position in 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 buying an additional 1,448 shares during the last quarter. Studio Investment Management LLC increased its position in MillerKnoll by 29.9% during the fourth quarter. Studio Investment Management LLC now owns 2,149 shares of the company’s stock valued at $49,000 after acquiring an additional 495 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of MillerKnoll by 793.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock valued at $50,000 after acquiring an additional 1,952 shares during the period. Finally, KBC Group NV lifted its holdings in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after acquiring an additional 1,281 shares during 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.