MillerKnoll (NASDAQ:MLKN) Sees Strong Trading Volume – Here’s Why

MillerKnoll, Inc. (NASDAQ:MLKN) shares saw strong trading volume on Tuesday . 894,519 shares traded hands during mid-day trading, an increase of 62% from the previous session’s volume of 550,629 shares.The stock last traded at $14.1560 and had previously closed at $14.10.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MillerKnoll in a research note on Wednesday, November 5th. Wall Street Zen raised MillerKnoll from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Zacks Research upgraded MillerKnoll from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

MillerKnoll Trading Up 0.4%

The company has a quick ratio of 0.96, a current ratio of 1.67 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average is $17.80 and its 200-day moving average is $18.44. The stock has a market capitalization of $969.83 million, a price-to-earnings ratio of -56.62, a PEG ratio of 0.71 and a beta of 1.36.

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

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Saturday, November 29th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, November 28th. MillerKnoll’s payout ratio is currently -300.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in MillerKnoll by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after purchasing an additional 519 shares in the last quarter. Amalgamated Bank raised its stake in shares of MillerKnoll by 3.4% during the 3rd quarter. Amalgamated Bank now owns 20,072 shares of the company’s stock worth $356,000 after buying an additional 668 shares during the last quarter. Legal & General Group Plc grew its stake in MillerKnoll by 0.4% in the 2nd quarter. Legal & General Group Plc now owns 192,219 shares of the company’s stock valued at $3,733,000 after acquiring an additional 678 shares during the last quarter. Hsbc Holdings PLC increased its holdings in MillerKnoll by 7.8% during the 1st quarter. Hsbc Holdings PLC now owns 10,350 shares of the company’s stock valued at $201,000 after acquiring an additional 753 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MillerKnoll by 2.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company’s stock worth $775,000 after acquiring an additional 801 shares during the last quarter. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

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.