MillerKnoll (NASDAQ:MLKN) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKNFree Report) from a buy rating to a strong-buy rating in a report published on Tuesday morning.

MillerKnoll Stock Performance

MLKN opened at $29.58 on Tuesday. The stock has a market cap of $2.15 billion, a P/E ratio of 43.50, a P/E/G ratio of 1.23 and a beta of 1.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.56 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $28.46 and its 200 day simple moving average is $25.79. MillerKnoll has a 1-year low of $13.20 and a 1-year high of $31.33.

MillerKnoll (NASDAQ:MLKNGet Free Report) last announced its earnings results on Wednesday, December 20th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $971.52 million. MillerKnoll had a return on equity of 10.06% and a net margin of 1.33%. MillerKnoll’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. As a group, equities analysts anticipate that MillerKnoll will post 2.07 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s dividend payout ratio (DPR) is presently 110.30%.

Institutional Investors Weigh In On MillerKnoll

A number of large investors have recently bought and sold shares of MLKN. Dimensional Fund Advisors LP boosted its holdings in shares of MillerKnoll by 26.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,053,816 shares of the company’s stock worth $30,355,000 after purchasing an additional 434,908 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of MillerKnoll by 3.1% during the third quarter. Northern Trust Corp now owns 848,549 shares of the company’s stock worth $20,747,000 after purchasing an additional 25,270 shares during the last quarter. LSV Asset Management boosted its holdings in shares of MillerKnoll by 141.1% during the third quarter. LSV Asset Management now owns 1,040,300 shares of the company’s stock worth $25,435,000 after purchasing an additional 608,810 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of MillerKnoll during the third quarter worth $1,126,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of MillerKnoll during the third quarter worth $410,000. Institutional investors and hedge funds own 88.66% of the company’s stock.

MillerKnoll Company Profile

(Get Free Report)

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.

Further Reading

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