MillerKnoll (NASDAQ:MLKN) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a hold rating in a research report released on Tuesday.

MillerKnoll Trading Down 1.3 %

Shares of MLKN opened at $21.95 on Tuesday. MillerKnoll has a twelve month low of $20.89 and a twelve month high of $31.73. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $23.91 and its 200-day simple moving average is $25.84. The company has a market cap of $1.52 billion, a P/E ratio of 25.23, a P/E/G ratio of 0.96 and a beta of 1.23.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The company 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 company posted $0.59 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts expect that MillerKnoll will post 2.17 EPS for the current year.

MillerKnoll Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Saturday, November 30th will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio (DPR) is presently 82.42%.

Institutional Trading of MillerKnoll

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its holdings in shares of MillerKnoll by 15.3% in the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock worth $106,370,000 after purchasing an additional 532,427 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in MillerKnoll by 157.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock worth $21,110,000 after acquiring an additional 521,318 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in MillerKnoll by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after acquiring an additional 377,121 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of MillerKnoll by 127.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 547,540 shares of the company’s stock worth $13,557,000 after acquiring an additional 307,210 shares during the period. Finally, Forager Capital Management LLC raised its stake in shares of MillerKnoll by 45.9% during the third quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock valued at $23,617,000 after acquiring an additional 300,000 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.

MillerKnoll Company Profile

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.