MillerKnoll (NASDAQ:MLKN) Reaches New 1-Year Low – What’s Next?

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $18.35 and last traded at $19.03, with a volume of 399 shares changing hands. The stock had previously closed at $19.13.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised MillerKnoll from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

MillerKnoll Price Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99. The company has a market capitalization of $1.30 billion, a PE ratio of 20.93, a PEG ratio of 0.89 and a beta of 1.22. The firm has a 50-day moving average of $21.63 and a 200 day moving average of $23.52.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $970.40 million for the quarter, compared to analysts’ expectations of $959.60 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. MillerKnoll’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. As a group, research analysts anticipate that MillerKnoll, Inc. will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be given a $0.1875 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.75 annualized dividend and a yield of 3.94%. MillerKnoll’s payout ratio is 82.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MillerKnoll in the fourth quarter worth about $6,576,000. Mackenzie Financial Corp boosted its position in MillerKnoll by 235.1% in the fourth quarter. Mackenzie Financial Corp now owns 30,966 shares of the company’s stock worth $700,000 after purchasing an additional 21,724 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in MillerKnoll by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,833 shares of the company’s stock worth $4,175,000 after purchasing an additional 25,413 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in MillerKnoll in the fourth quarter worth about $2,680,000. Finally, Two Sigma Advisers LP boosted its position in MillerKnoll by 16.5% in the fourth quarter. Two Sigma Advisers LP now owns 18,310 shares of the company’s stock worth $414,000 after purchasing an additional 2,600 shares during 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.