MillerKnoll (NASDAQ:MLKN) Lowered to Hold at StockNews.com

StockNews.com lowered shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

MillerKnoll Trading Up 1.7 %

Shares of NASDAQ MLKN opened at $24.00 on Thursday. MillerKnoll has a fifty-two week low of $22.43 and a fifty-two week high of $31.73. 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 company has a market cap of $1.72 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.93 and a beta of 1.17. The business’s 50 day moving average price is $26.95 and its 200-day moving average price is $26.86.

MillerKnoll (NASDAQ:MLKN) last released its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). The business had revenue of $861.50 million for the quarter, compared to the consensus estimate of $889.38 million. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. On average, sell-side analysts expect that MillerKnoll will post 2.17 earnings per share for the current year.

MillerKnoll Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Saturday, August 31st 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 3.13%. The ex-dividend date of this dividend is Friday, August 30th. MillerKnoll’s dividend payout ratio (DPR) is presently 67.57%.

Institutional Trading of MillerKnoll

A number of large investors have recently modified their holdings of the company. Mather Group LLC. bought a new stake in MillerKnoll during the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of MillerKnoll by 254.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after acquiring an additional 862 shares in the last quarter. GAMMA Investing LLC lifted its stake in MillerKnoll by 35.0% in 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 during the period. EntryPoint Capital LLC grew its holdings in MillerKnoll by 566.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,661 shares of the company’s stock worth $66,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in MillerKnoll during the 2nd quarter valued at about $85,000. Hedge funds and other 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.