MillerKnoll (NASDAQ:MLKN) Sets New 1-Year Low – Should You Sell?

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

Analyst Upgrades and Downgrades

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

MillerKnoll Price Performance

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 firm has a fifty day moving average price of $25.58 and a two-hundred day moving average price of $26.60. The stock has a market capitalization of $1.58 billion, a P/E ratio of 26.21, a P/E/G ratio of 0.88 and a beta of 1.17.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly 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). MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The company had revenue of $861.50 million for the quarter, compared to the consensus estimate of $889.38 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. MillerKnoll’s revenue was down 6.1% compared to the same quarter last year. On average, analysts expect that MillerKnoll, Inc. will post 2.17 EPS for the current year.

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Saturday, November 30th will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 annualized dividend and a dividend yield of 3.29%. MillerKnoll’s dividend payout ratio (DPR) is presently 86.21%.

Institutional Investors Weigh In On MillerKnoll

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of MillerKnoll by 254.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after buying an additional 862 shares during the last quarter. Mather Group LLC. purchased a new position in MillerKnoll in the second quarter worth about $30,000. GAMMA Investing LLC boosted its position in MillerKnoll by 35.0% in the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock worth $41,000 after purchasing an additional 426 shares during the last quarter. EntryPoint Capital LLC boosted its position in MillerKnoll by 566.9% in the first quarter. EntryPoint Capital LLC now owns 2,661 shares of the company’s stock worth $66,000 after purchasing an additional 2,262 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in MillerKnoll in the second quarter worth about $85,000. 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.