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

Shares of MillerKnoll, Inc. (NASDAQ:MLKN) reached a new 52-week low on Thursday . The stock traded as low as $21.63 and last traded at $22.81, with a volume of 182416 shares changing hands. The stock had previously closed at $24.33.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of MillerKnoll from a “hold” rating to a “buy” rating in a research note on Friday.

MillerKnoll Stock Down 2.7 %

The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 0.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. The firm’s 50-day simple moving average is $24.39 and its two-hundred day simple moving average is $26.12.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The business had revenue of $970.40 million for the quarter, compared to analyst estimates of $959.60 million. During the same period in the prior year, the business posted $0.59 earnings per share. MillerKnoll’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that MillerKnoll, Inc. will post 2.17 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, November 29th. MillerKnoll’s payout ratio is 86.21%.

Institutional Investors Weigh In On MillerKnoll

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in MillerKnoll by 35.0% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of MillerKnoll by 6.0% during the 2nd 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 grew its position in shares of MillerKnoll by 254.3% in the 2nd 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 during the period. Hsbc Holdings PLC raised its holdings in shares of MillerKnoll by 10.3% during the second quarter. Hsbc Holdings PLC now owns 9,761 shares of the company’s stock worth $256,000 after acquiring an additional 908 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of MillerKnoll by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 40,269 shares of the company’s stock worth $1,067,000 after acquiring an additional 1,463 shares during the period. Institutional investors own 87.50% of the company’s stock.

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.