MillerKnoll (NASDAQ:MLKN) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a hold rating in a report published on Thursday.

MillerKnoll Stock Up 0.4 %

NASDAQ MLKN traded up $0.09 on Thursday, hitting $23.70. 7,502 shares of the stock were exchanged, compared to its average volume of 647,398. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. MillerKnoll has a fifty-two week low of $22.43 and a fifty-two week high of $31.73. The company has a market cap of $1.65 billion, a PE ratio of 27.14, a PEG ratio of 0.93 and a beta of 1.17. The company has a 50-day moving average price of $27.06 and a 200-day moving average price of $26.93.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The company had revenue of $861.50 million during the quarter, compared to analyst estimates of $889.38 million. During the same quarter in the previous year, the company posted $0.37 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts anticipate that MillerKnoll will post 2.17 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Saturday, August 31st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, August 30th. MillerKnoll’s payout ratio is 86.21%.

Institutional Trading of MillerKnoll

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLKN. Vanguard Group Inc. boosted its stake in shares of MillerKnoll by 2.6% in the first quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after buying an additional 226,792 shares in the last quarter. Pacer Advisors Inc. boosted its position in MillerKnoll by 15.3% during the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after purchasing an additional 532,427 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MillerKnoll by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after purchasing an additional 377,121 shares in the last quarter. Hennessy Advisors Inc. boosted its position in MillerKnoll by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock worth $31,226,000 after purchasing an additional 180,500 shares in the last quarter. Finally, LSV Asset Management boosted its position in MillerKnoll by 0.7% during the first quarter. LSV Asset Management now owns 1,059,546 shares of the company’s stock worth $26,234,000 after purchasing an additional 6,846 shares in the last quarter. 87.50% of the stock is 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.