MillerKnoll (NASDAQ:MLKN) Hits New 12-Month Low – Here’s What Happened

MillerKnoll, Inc. (NASDAQ:MLKN) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $20.46 and last traded at $20.55, with a volume of 5120 shares traded. The stock had previously closed at $21.03.

Analysts Set New Price Targets

Separately, StockNews.com upgraded MillerKnoll from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

MillerKnoll Trading Down 2.0 %

The company’s 50-day moving average is $22.15 and its 200 day moving average is $24.25. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 1.02. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results on Wednesday, December 18th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $970.40 million during the quarter, compared to analysts’ expectations of $959.60 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Research analysts predict that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Friday, February 28th. MillerKnoll’s dividend payout ratio (DPR) is presently 82.42%.

Institutional Trading of MillerKnoll

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of MillerKnoll by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,820,581 shares of the company’s stock valued at $86,306,000 after acquiring an additional 121,478 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of MillerKnoll during the fourth quarter worth $32,283,000. Charles Schwab Investment Management Inc. grew its stake in shares of MillerKnoll by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,312,945 shares of the company’s stock valued at $29,659,000 after buying an additional 42,343 shares in the last quarter. Vulcan Value Partners LLC lifted its stake in MillerKnoll by 12.8% during the 4th quarter. Vulcan Value Partners LLC now owns 1,252,093 shares of the company’s stock worth $28,285,000 after acquiring an additional 141,936 shares in the last quarter. Finally, Forager Capital Management LLC boosted its holdings in MillerKnoll by 23.9% during the 4th quarter. Forager Capital Management LLC now owns 1,181,841 shares of the company’s stock valued at $26,698,000 after acquiring an additional 228,000 shares during the period. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

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.