MillerKnoll (NASDAQ:MLKN) Hits New 52-Week Low – Here’s Why

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

Wall Street Analysts Forecast Growth

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

MillerKnoll Stock Performance

The firm has a market cap of $972.23 million, a PE ratio of -56.76, a PEG ratio of 0.71 and a beta of 1.36. 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 firm’s 50 day moving average price is $17.94 and its two-hundred day moving average price is $18.45.

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. The firm had revenue of $92.95 million for the quarter. MillerKnoll had a negative net margin of 0.41% and a positive return on equity of 10.96%. On average, research analysts forecast that MillerKnoll, Inc. will post 2.12 earnings per share for the current year.

MillerKnoll Announces Dividend

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

Hedge Funds Weigh In On MillerKnoll

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its holdings in MillerKnoll by 36.5% during the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock worth $38,000 after acquiring an additional 519 shares during the period. Summit Securities Group LLC purchased a new position in MillerKnoll in the 1st quarter valued at about $70,000. Canada Pension Plan Investment Board purchased a new stake in shares of MillerKnoll during the second quarter worth about $82,000. Strs Ohio acquired a new position in MillerKnoll in the 3rd quarter valued at $85,000. Finally, CWM LLC increased its position in MillerKnoll by 346.9% during the second quarter. CWM LLC now owns 5,072 shares of the company’s stock worth $99,000 after purchasing an additional 3,937 shares during the last quarter. Hedge funds and other 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.