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

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MLKN shares. Sidoti raised shares of MillerKnoll to a “hold” rating in a research report on Tuesday. StockNews.com cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Saturday.

MillerKnoll Price Performance

The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 0.89 and a beta of 1.22. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02. The firm has a 50-day simple moving average of $21.22 and a two-hundred day simple moving average of $23.09.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, March 26th. The company reported $0.44 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 business had revenue of $876.20 million during the quarter, compared to analysts’ expectations of $918.88 million. During the same period in the prior year, the business earned $0.45 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, analysts predict that MillerKnoll, Inc. will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s dividend payout ratio (DPR) is presently 82.42%.

Hedge Funds Weigh In On MillerKnoll

A number of 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% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after buying an additional 1,201 shares in the last quarter. Avior Wealth Management LLC grew its position in MillerKnoll by 228.8% in the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock valued at $47,000 after acquiring an additional 1,448 shares in the last quarter. Studio Investment Management LLC increased its stake in MillerKnoll by 29.9% during the fourth quarter. Studio Investment Management LLC now owns 2,149 shares of the company’s stock worth $49,000 after purchasing an additional 495 shares during the period. Sterling Capital Management LLC boosted its stake in shares of MillerKnoll by 793.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock valued at $50,000 after purchasing an additional 1,952 shares during the period. Finally, KBC Group NV grew its holdings in shares of MillerKnoll by 62.9% in the fourth quarter. KBC Group NV now owns 3,319 shares of the company’s stock valued at $75,000 after purchasing an additional 1,281 shares in the last quarter. Hedge funds and other 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.