MillerKnoll (NASDAQ:MLKN) Reaches New 52-Week Low – Here’s What Happened

Shares of MillerKnoll, Inc. (NASDAQ:MLKN) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.28 and last traded at $18.94, with a volume of 1782119 shares changing hands. The stock had previously closed at $18.96.

Analysts Set New Price Targets

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

MillerKnoll Trading Down 0.2 %

The firm has a market capitalization of $1.29 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99. The firm has a fifty day simple moving average of $21.46 and a two-hundred day simple moving average of $23.31.

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Saturday, March 1st will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.75 annualized dividend and a yield of 3.96%. MillerKnoll’s payout ratio is 82.42%.

Institutional Investors Weigh In On MillerKnoll

Large investors have recently bought and sold shares of the business. FMR LLC increased its holdings in MillerKnoll by 939.8% in the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock worth $960,000 after buying an additional 35,054 shares in the last quarter. Jane Street Group LLC grew its stake in shares of MillerKnoll by 56.6% during the 3rd quarter. Jane Street Group LLC now owns 90,960 shares of the company’s stock valued at $2,252,000 after purchasing an additional 32,861 shares during the period. Forager Capital Management LLC lifted 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 valued at $23,617,000 after buying an additional 300,000 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of MillerKnoll by 458.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after buying an additional 1,201 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of MillerKnoll by 5.1% during the 4th quarter. Empowered Funds LLC now owns 377,522 shares of the company’s stock valued at $8,528,000 after buying an additional 18,378 shares in the last quarter. 87.50% of the stock is currently owned by 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.