MillerKnoll (NASDAQ:MLKN) Trading Down 3.1% – What’s Next?

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price fell 3.1% during trading on Friday . The company traded as low as $22.25 and last traded at $22.29. 516,167 shares were traded during mid-day trading, a decline of 20% from the average session volume of 641,747 shares. The stock had previously closed at $23.00.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of MillerKnoll from a “hold” rating to a “buy” rating in a research note on Friday.

MillerKnoll Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The firm’s 50-day simple moving average is $24.39 and its two-hundred day simple moving average is $26.11.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The business had revenue of $970.40 million for the quarter, compared to analysts’ expectations of $959.60 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that MillerKnoll, Inc. will post 2.17 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Saturday, November 30th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, November 29th. MillerKnoll’s payout ratio is currently 86.21%.

Institutional Trading of MillerKnoll

Several large investors have recently modified their holdings of the business. Bailard Inc. acquired a new position in shares of MillerKnoll during the 2nd quarter worth approximately $207,000. Innealta Capital LLC acquired a new position in shares of MillerKnoll in the second quarter worth $87,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of MillerKnoll in the second quarter valued at $821,000. Texas Permanent School Fund Corp boosted its stake in shares of MillerKnoll by 10.7% during the second quarter. Texas Permanent School Fund Corp now owns 70,563 shares of the company’s stock valued at $1,869,000 after acquiring an additional 6,833 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in MillerKnoll during the 2nd quarter worth about $1,901,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

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.