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

Shares of MillerKnoll, Inc. (NASDAQ:MLKN) reached a new 52-week low during trading on Tuesday . The stock traded as low as $13.80 and last traded at $13.8510, with a volume of 31934 shares. The stock had previously closed at $13.93.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MLKN shares. Zacks Research upgraded shares of MillerKnoll from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Wall Street Zen raised shares of MillerKnoll from a “hold” rating to a “buy” rating in a research note on Sunday, November 2nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of MillerKnoll in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

MillerKnoll Price Performance

The firm has a 50-day simple moving average of $17.15 and a 200-day simple moving average of $18.37. The firm has a market cap of $949.96 million, a P/E ratio of -55.42, a PEG ratio of 0.71 and a beta of 1.36. The company has a current ratio of 1.67, a quick ratio of 0.96 and a debt-to-equity ratio of 1.02.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, February 16th. The company reported $0.35 EPS for the quarter. The firm had revenue of $92.95 million during the quarter. MillerKnoll had a positive return on equity of 10.96% and a negative net margin of 0.41%. As a group, analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Saturday, November 29th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, November 28th. MillerKnoll’s payout ratio is currently -300.00%.

Institutional Trading of MillerKnoll

A number of institutional investors have recently made changes to their positions in MLKN. Verdence Capital Advisors LLC increased its position in MillerKnoll by 48.6% during the 1st quarter. Verdence Capital Advisors LLC now owns 13,899 shares of the company’s stock valued at $266,000 after buying an additional 4,543 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of MillerKnoll during the first quarter worth about $201,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of MillerKnoll by 4.4% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 303,907 shares of the company’s stock valued at $5,817,000 after acquiring an additional 12,800 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of MillerKnoll by 36.0% in the 1st quarter. Mackenzie Financial Corp now owns 42,128 shares of the company’s stock valued at $806,000 after purchasing an additional 11,162 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in MillerKnoll in the 1st quarter worth approximately $590,000. Institutional investors and hedge funds 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.