MillerKnoll (NASDAQ:MLKN) Shares Gap Down to $30.53

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $30.53, but opened at $23.90. MillerKnoll shares last traded at $25.54, with a volume of 609,726 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded MillerKnoll from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th.

MillerKnoll Stock Performance

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 1.56. The stock has a fifty day simple moving average of $28.76 and a two-hundred day simple moving average of $26.10. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 36.81, a P/E/G ratio of 1.21 and a beta of 1.31.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, March 27th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. MillerKnoll had a return on equity of 10.06% and a net margin of 1.33%. The company had revenue of $872.30 million during the quarter, compared to the consensus estimate of $909.55 million. During the same period last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. Analysts forecast that MillerKnoll, Inc. will post 2.07 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, February 29th. This represents a $0.75 annualized dividend and a dividend yield of 3.03%. MillerKnoll’s dividend payout ratio is currently 110.30%.

Institutional Investors Weigh In On MillerKnoll

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of MillerKnoll by 26.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,053,816 shares of the company’s stock worth $30,355,000 after purchasing an additional 434,908 shares during the period. Northern Trust Corp raised its position in shares of MillerKnoll by 3.1% in the third quarter. Northern Trust Corp now owns 848,549 shares of the company’s stock worth $20,747,000 after buying an additional 25,270 shares in the last quarter. LSV Asset Management raised its position in shares of MillerKnoll by 141.1% in the third quarter. LSV Asset Management now owns 1,040,300 shares of the company’s stock worth $25,435,000 after buying an additional 608,810 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in MillerKnoll during the third quarter valued at about $1,126,000. Finally, GTS Securities LLC purchased a new position in shares of MillerKnoll in the third quarter worth about $1,027,000. 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.