MillerKnoll, Inc. (NASDAQ:MLKN) Short Interest Up 65.8% in October

MillerKnoll, Inc. (NASDAQ:MLKN) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,620,000 shares, a growth of 65.8% from the October 15th total of 1,580,000 shares. Approximately 3.8% of the company’s shares are sold short. Based on an average daily volume of 583,700 shares, the days-to-cover ratio is currently 4.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of MillerKnoll from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

MillerKnoll Trading Down 2.4 %

MLKN stock traded down $0.58 during mid-day trading on Wednesday, reaching $24.04. The company had a trading volume of 451,798 shares, compared to its average volume of 634,842. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. The company has a market capitalization of $1.66 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 0.95 and a beta of 1.18. The firm has a 50 day moving average of $24.76 and a 200 day moving average of $26.55. MillerKnoll has a 12 month low of $22.35 and a 12 month high of $31.73.

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

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.12%. MillerKnoll’s dividend payout ratio is presently 86.21%.

Hedge Funds Weigh In On MillerKnoll

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of MillerKnoll by 35.0% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $41,000 after purchasing an additional 426 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of MillerKnoll by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 44,779 shares of the company’s stock valued at $1,186,000 after purchasing an additional 580 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of MillerKnoll by 6.0% during the second quarter. Bank of Montreal Can now owns 13,551 shares of the company’s stock valued at $359,000 after purchasing an additional 768 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of MillerKnoll by 254.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after purchasing an additional 862 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of MillerKnoll by 10.3% during the second quarter. Hsbc Holdings PLC now owns 9,761 shares of the company’s stock valued at $256,000 after purchasing an additional 908 shares in the last quarter. 87.50% of the stock is currently owned by 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.