MillerKnoll (NASDAQ:MLKN) Reaches New 1-Year Low – Here’s What Happened

MillerKnoll, Inc. (NASDAQ:MLKN) shares reached a new 52-week low on Monday . The stock traded as low as $14.10 and last traded at $14.5050, with a volume of 1664089 shares. The stock had previously closed at $14.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a report on Sunday, November 2nd. Zacks Research upgraded MillerKnoll from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of MillerKnoll in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

MillerKnoll Price Performance

The stock’s 50 day simple moving average is $17.94 and its two-hundred day simple moving average is $18.45. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.67 and a quick ratio of 0.96. The stock has a market cap of $972.23 million, a price-to-earnings ratio of -56.76, a P/E/G ratio of 0.71 and a beta of 1.36.

MillerKnoll (NASDAQ:MLKN) last released its earnings results on Wednesday, February 16th. The company reported $0.35 earnings per share (EPS) for the quarter. MillerKnoll had a negative net margin of 0.41% and a positive return on equity of 10.96%. The company had revenue of $92.95 million for the quarter. On average, analysts forecast that MillerKnoll, Inc. will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Saturday, November 29th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 5.3%. MillerKnoll’s payout ratio is -300.00%.

Institutional Investors Weigh In On MillerKnoll

Several large investors have recently bought and sold shares of MLKN. Hsbc Holdings PLC increased its stake in MillerKnoll by 7.8% during the 1st quarter. Hsbc Holdings PLC now owns 10,350 shares of the company’s stock worth $201,000 after purchasing an additional 753 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in MillerKnoll by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,343,825 shares of the company’s stock valued at $25,721,000 after purchasing an additional 30,880 shares in the last quarter. Intech Investment Management LLC increased its position in shares of MillerKnoll by 20.4% in the first quarter. Intech Investment Management LLC now owns 131,134 shares of the company’s stock valued at $2,510,000 after acquiring an additional 22,238 shares during the last quarter. US Bancorp DE raised its position in MillerKnoll by 11,871.5% during the first quarter. US Bancorp DE now owns 18,915 shares of the company’s stock worth $362,000 after acquiring an additional 18,757 shares in the last quarter. Finally, New Age Alpha Advisors LLC raised its holdings in shares of MillerKnoll by 43.2% in the 1st quarter. New Age Alpha Advisors LLC now owns 150,267 shares of the company’s stock valued at $2,876,000 after purchasing an additional 45,362 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.