MillerKnoll (NASDAQ:MLKN) Hits New 52-Week Low – What’s Next?

MillerKnoll, Inc. (NASDAQ:MLKN) hit a new 52-week low on Thursday . The company traded as low as $22.61 and last traded at $22.63, with a volume of 57789 shares trading hands. The stock had previously closed at $23.01.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th.

MillerKnoll Stock Down 1.8 %

The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $1.56 billion, a PE ratio of 26.45, a PEG ratio of 0.94 and a beta of 1.17. The firm’s fifty day moving average is $25.85 and its 200-day moving average is $26.65.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). The firm had revenue of $861.50 million during the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. On average, equities research analysts predict that MillerKnoll, Inc. will post 2.17 earnings per share for the current year.

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.32%. MillerKnoll’s dividend payout ratio (DPR) is 86.21%.

Hedge Funds Weigh In On MillerKnoll

Several hedge funds have recently bought and sold shares of MLKN. Nordea Investment Management AB purchased a new stake in shares of MillerKnoll in the first quarter valued at $2,933,000. Daiwa Securities Group Inc. lifted its position in MillerKnoll by 613.3% during the first quarter. Daiwa Securities Group Inc. now owns 10,700 shares of the company’s stock worth $265,000 after buying an additional 9,200 shares during the period. LSV Asset Management boosted its stake in MillerKnoll by 0.7% in the 1st quarter. LSV Asset Management now owns 1,059,546 shares of the company’s stock worth $26,234,000 after buying an additional 6,846 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of MillerKnoll in the first quarter worth approximately $7,311,000. Finally, Illinois Municipal Retirement Fund raised its stake in MillerKnoll by 3.1% during the first quarter. Illinois Municipal Retirement Fund now owns 43,682 shares of the company’s stock worth $1,082,000 after purchasing an additional 1,327 shares during the period. 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.