MillerKnoll (NASDAQ:MLKN) Reaches New 1-Year Low – Time to Sell?

MillerKnoll, Inc. (NASDAQ:MLKN) shares hit a new 52-week low on Thursday . The stock traded as low as $17.36 and last traded at $17.44, with a volume of 353543 shares. The stock had previously closed at $19.22.

Wall Street Analysts Forecast Growth

MLKN has been the topic of a number of research reports. Sidoti raised shares of MillerKnoll to a “hold” rating in a research report on Tuesday, March 25th. StockNews.com cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th.

MillerKnoll Stock Performance

The stock has a market capitalization of $1.18 billion, a P/E ratio of 19.10, a P/E/G ratio of 0.89 and a beta of 1.22. The stock has a 50 day simple moving average of $20.85 and a two-hundred day simple moving average of $22.81. 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 released its earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share for the quarter, meeting the consensus estimate 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 last year, the business earned $0.45 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, equities analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

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 issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s payout ratio is currently 178.57%.

Institutional Trading of MillerKnoll

Several institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its holdings 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 worth $33,000 after acquiring an additional 1,201 shares during the last quarter. Avior Wealth Management LLC boosted its position in MillerKnoll by 228.8% during the fourth quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock worth $47,000 after purchasing an additional 1,448 shares during the period. Studio Investment Management LLC increased its holdings in shares of MillerKnoll by 29.9% in the fourth 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 raised its position 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 lifted its stake in shares of MillerKnoll by 62.9% during 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 during the last quarter. 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.