MillerKnoll (NASDAQ:MLKN) Cut to Hold at StockNews.com

StockNews.com lowered shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a hold rating in a research report report published on Tuesday morning.

MillerKnoll Stock Performance

NASDAQ MLKN opened at $21.87 on Tuesday. The company has a market capitalization of $1.51 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. MillerKnoll has a 52-week low of $20.89 and a 52-week high of $31.73. The company has a 50-day simple moving average of $23.89 and a 200 day simple moving average of $25.81.

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

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, November 29th. MillerKnoll’s dividend payout ratio (DPR) is currently 82.42%.

Institutional Investors Weigh In On MillerKnoll

Several institutional investors have recently added to or reduced their stakes in MLKN. Douglas Lane & Associates LLC raised its position in shares of MillerKnoll by 5.0% in the fourth quarter. Douglas Lane & Associates LLC now owns 216,843 shares of the company’s stock valued at $4,898,000 after purchasing an additional 10,345 shares during the period. Nordea Investment Management AB grew its stake in MillerKnoll by 3.7% in the 4th quarter. Nordea Investment Management AB now owns 178,570 shares of the company’s stock valued at $4,057,000 after buying an additional 6,433 shares in the last quarter. Principal Financial Group Inc. raised its holdings in MillerKnoll by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 358,529 shares of the company’s stock valued at $8,877,000 after acquiring an additional 5,155 shares during the period. Franklin Resources Inc. lifted its position in shares of MillerKnoll by 5.6% during the third quarter. Franklin Resources Inc. now owns 39,928 shares of the company’s stock worth $973,000 after acquiring an additional 2,128 shares in the last quarter. Finally, Forager Capital Management LLC boosted its holdings in shares of MillerKnoll by 45.9% in the third quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock worth $23,617,000 after acquiring an additional 300,000 shares during the period. 87.50% of the stock is owned by hedge funds and other institutional investors.

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.