MillerKnoll (NASDAQ:MLKN) Shares Gap Up – Here’s What Happened

MillerKnoll, Inc. (NASDAQ:MLKN) shares gapped up prior to trading on Thursday . The stock had previously closed at $18.34, but opened at $19.51. MillerKnoll shares last traded at $20.12, with a volume of 315,301 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Sidoti raised shares of MillerKnoll to a “hold” rating in a research report on Tuesday. StockNews.com raised MillerKnoll from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

MillerKnoll Stock Up 8.1 %

The company has a market cap of $1.35 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. 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 fifty day moving average price of $21.28 and a 200 day moving average price of $23.16.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The company had revenue of $876.20 million during the quarter, compared to analysts’ expectations of $918.88 million. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s revenue was up .4% on a year-over-year basis. As a group, analysts anticipate that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Saturday, March 1st will be paid a $0.1875 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.78%. MillerKnoll’s payout ratio is 82.42%.

Institutional Investors Weigh In On MillerKnoll

Several institutional investors and hedge funds have recently made changes to their positions in MLKN. Smartleaf Asset Management LLC grew its stake in shares of MillerKnoll by 458.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after purchasing an additional 1,201 shares during the period. Avior Wealth Management LLC raised its position in shares of MillerKnoll by 228.8% during the fourth quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock valued at $47,000 after buying an additional 1,448 shares during the last quarter. Studio Investment Management LLC boosted its holdings in shares of MillerKnoll by 29.9% during the 4th quarter. Studio Investment Management LLC now owns 2,149 shares of the company’s stock valued at $49,000 after purchasing an additional 495 shares during the last quarter. Sterling Capital Management LLC boosted its stake in MillerKnoll by 793.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock valued at $50,000 after buying an additional 1,952 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after buying an additional 1,281 shares in the last quarter. Institutional investors own 87.50% of the company’s stock.

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.