MillerKnoll (NASDAQ:MLKN) Reaches New 52-Week Low – Time to Sell?

Shares of MillerKnoll, Inc. (NASDAQ:MLKN) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $20.46 and last traded at $20.55, with a volume of 5120 shares changing hands. The stock had previously closed at $21.03.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised MillerKnoll from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

MillerKnoll Trading Down 2.0 %

The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 0.89 and a beta of 1.22. The business’s 50 day moving average is $22.15 and its 200 day moving average is $24.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99.

MillerKnoll (NASDAQ:MLKN) last posted its 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 return on equity of 10.74% and a net margin of 1.81%. 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 previous year, the firm earned $0.59 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that MillerKnoll, Inc. will post 2.12 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be paid a $0.1875 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.75 annualized dividend and a yield of 3.64%. MillerKnoll’s dividend payout ratio is currently 82.42%.

Institutional Trading of MillerKnoll

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in MillerKnoll by 939.8% in the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock valued at $960,000 after purchasing an additional 35,054 shares in the last quarter. Jane Street Group LLC lifted its holdings in MillerKnoll by 56.6% in the third quarter. Jane Street Group LLC now owns 90,960 shares of the company’s stock valued at $2,252,000 after acquiring an additional 32,861 shares during the period. Forager Capital Management LLC boosted its position in shares of MillerKnoll by 45.9% during the 3rd quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock worth $23,617,000 after purchasing an additional 300,000 shares in the last quarter. Empowered Funds LLC grew its stake in shares of MillerKnoll by 5.1% during the 4th quarter. Empowered Funds LLC now owns 377,522 shares of the company’s stock worth $8,528,000 after purchasing an additional 18,378 shares during the period. Finally, Barclays PLC increased its holdings in shares of MillerKnoll by 37.7% in the 3rd quarter. Barclays PLC now owns 119,389 shares of the company’s stock valued at $2,957,000 after purchasing an additional 32,686 shares in the last quarter. Hedge funds and other 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.