MillerKnoll (NASDAQ:MLKN) Trading Down 3.1% – Time to Sell?

by · The Cerbat Gem

MillerKnoll, Inc. (NASDAQ:MLKN – Get Free Report)’s share price traded down 3.1% on Friday . The stock traded as low as $22.25 and last traded at $22.29. 516,167 shares were traded during mid-day trading, a decline of 20% from the average session volume of 641,747 shares. The stock had previously closed at $23.00.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on MLKN

MillerKnoll Price Performance

The stock has a market capitalization of $1.56 billion, a PE ratio of 25.98, a PEG ratio of 0.96 and a beta of 1.20. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The firm’s fifty day moving average price is $24.42 and its two-hundred day moving average price is $26.15.

MillerKnoll (NASDAQ:MLKN – Get Free Report) last posted its earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The company had revenue of $970.40 million for the quarter, compared to the consensus estimate of $959.60 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. MillerKnoll’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts predict that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Dividend Announcement

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 given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, November 29th. MillerKnoll’s payout ratio is 86.21%.

Hedge Funds Weigh In On MillerKnoll

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in MillerKnoll by 15.3% during the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after acquiring an additional 532,427 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in shares of MillerKnoll by 157.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock worth $21,110,000 after purchasing an additional 521,318 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of MillerKnoll by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock valued at $89,864,000 after buying an additional 377,121 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of MillerKnoll by 127.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 547,540 shares of the company’s stock valued at $13,557,000 after buying an additional 307,210 shares in the last quarter. Finally, Forager Capital Management LLC boosted its holdings in MillerKnoll by 45.9% in the 3rd quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock worth $23,617,000 after buying an additional 300,000 shares during the period. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

About MillerKnoll

(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.

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