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

MillerKnoll, Inc. (NASDAQ:MLKN) shares hit a new 52-week low on Monday . The company traded as low as $15.13 and last traded at $15.22, with a volume of 49744 shares changing hands. The stock had previously closed at $15.62.

Wall Street Analysts Forecast Growth

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

MillerKnoll Price Performance

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.96 and a current ratio of 1.67. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -60.72, a P/E/G ratio of 0.71 and a beta of 1.35. The company has a 50-day moving average of $18.60 and a 200-day moving average of $18.48.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, February 16th. The company reported $0.35 earnings per share (EPS) for the quarter. MillerKnoll had a positive return on equity of 10.96% and a negative net margin of 0.41%.The firm had revenue of $92.95 million during the quarter. As a group, equities research analysts expect 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 given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, November 28th. MillerKnoll’s payout ratio is currently -300.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC acquired a new position in shares of MillerKnoll during the 3rd quarter worth approximately $713,000. Y Intercept Hong Kong Ltd raised its holdings in 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. Strs Ohio acquired a new position in MillerKnoll in the 3rd quarter valued at $85,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in MillerKnoll by 2.0% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 156,041 shares of the company’s stock valued at $2,768,000 after acquiring an additional 3,102 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in MillerKnoll by 3.4% in the 3rd quarter. Amalgamated Bank now owns 20,072 shares of the company’s stock valued at $356,000 after acquiring an additional 668 shares during the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.