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

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

Separately, Sidoti raised MillerKnoll to a “hold” rating in a research report on Tuesday, March 25th.

MillerKnoll Price Performance

Shares of MLKN opened at $19.14 on Friday. MillerKnoll has a 12-month low of $17.83 and a 12-month high of $31.73. The stock has a market cap of $1.30 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.89 and a beta of 1.22. The business’s fifty day moving average is $21.16 and its 200 day moving average is $23.00. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 1.02.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $876.20 million for the quarter, compared to analyst estimates of $918.88 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. Sell-side analysts anticipate that MillerKnoll will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s dividend payout ratio (DPR) is currently 178.57%.

Hedge Funds Weigh In On MillerKnoll

Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of MillerKnoll by 39.9% during the 4th quarter. Wellington Management Group LLP now owns 804,105 shares of the company’s stock valued at $18,165,000 after acquiring an additional 229,283 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in MillerKnoll in the fourth quarter worth $6,576,000. Mackenzie Financial Corp raised its position in shares of MillerKnoll by 235.1% in the 4th quarter. Mackenzie Financial Corp now owns 30,966 shares of the company’s stock worth $700,000 after acquiring an additional 21,724 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in MillerKnoll by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,833 shares of the company’s stock worth $4,175,000 after purchasing an additional 25,413 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in MillerKnoll during the 4th quarter valued at about $2,680,000. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

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.