MillerKnoll (NASDAQ:MLKN) Shares Gap Down – Should You Sell?

MillerKnoll, Inc. (NASDAQ:MLKN) gapped down prior to trading on Monday . The stock had previously closed at $16.18, but opened at $14.70. MillerKnoll shares last traded at $15.0180, with a volume of 121,313 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MLKN shares. William Blair started coverage on MillerKnoll in a research report on Tuesday, February 10th. They issued an “outperform” rating for the company. Zacks Research raised MillerKnoll from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MillerKnoll in a research report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

MillerKnoll Price Performance

The company has a 50 day simple moving average of $15.93 and a 200-day simple moving average of $17.67. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 107.57, a PEG ratio of 0.64 and a beta of 1.41. The company has a quick ratio of 0.92, a current ratio of 1.64 and a debt-to-equity ratio of 0.96.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%. The firm had revenue of $926.60 million for the quarter, compared to analyst estimates of $941.95 million. During the same quarter in the previous year, the company earned $0.44 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that MillerKnoll, Inc. will post 1.83 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Saturday, May 30th will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, May 29th. This represents a $0.75 annualized dividend and a yield of 5.0%. MillerKnoll’s dividend payout ratio is presently 535.71%.

Institutional Trading of MillerKnoll

Institutional investors and hedge funds have recently bought and sold shares of the company. Douglas Lane & Associates LLC raised its stake in MillerKnoll by 92.4% during the fourth quarter. Douglas Lane & Associates LLC now owns 445,145 shares of the company’s stock valued at $8,137,000 after buying an additional 213,816 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in MillerKnoll by 27.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company’s stock valued at $46,267,000 after buying an additional 541,638 shares in the last quarter. SG Americas Securities LLC raised its stake in MillerKnoll by 755.0% during the fourth quarter. SG Americas Securities LLC now owns 478,727 shares of the company’s stock valued at $8,751,000 after buying an additional 422,735 shares in the last quarter. Public Sector Pension Investment Board raised its stake in MillerKnoll by 14.5% during the third quarter. Public Sector Pension Investment Board now owns 264,533 shares of the company’s stock valued at $4,693,000 after buying an additional 33,538 shares in the last quarter. Finally, UBS Group AG raised its stake in MillerKnoll by 119.5% during the fourth quarter. UBS Group AG now owns 272,589 shares of the company’s stock valued at $4,983,000 after buying an additional 148,390 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.

About MillerKnoll

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.