MillerKnoll (NASDAQ:MLKN) Shares Gap Up – Here’s Why

MillerKnoll, Inc. (NASDAQ:MLKN)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $18.34, but opened at $19.51. MillerKnoll shares last traded at $20.12, with a volume of 315,301 shares traded.

Analysts Set New Price Targets

A number of analysts have weighed in on MLKN shares. Sidoti raised MillerKnoll to a “hold” rating in a research report on Tuesday. StockNews.com upgraded MillerKnoll from a “hold” rating to a “buy” rating in a research report on Wednesday, January 15th.

MillerKnoll Stock Up 8.1 %

The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60. The firm’s 50-day simple moving average is $21.28 and its two-hundred day simple moving average is $23.16. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 0.89 and a beta of 1.22.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The business had revenue of $876.20 million during the quarter, compared to the consensus estimate of $918.88 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, sell-side analysts expect that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.78%. MillerKnoll’s dividend payout ratio is presently 82.42%.

Institutional Investors Weigh In On MillerKnoll

Institutional investors have recently made changes to their positions in the company. Studio Investment Management LLC lifted its holdings in shares of MillerKnoll by 29.9% during the 4th quarter. Studio Investment Management LLC now owns 2,149 shares of the company’s stock worth $49,000 after acquiring an additional 495 shares during the period. MetLife Investment Management LLC increased its holdings in MillerKnoll by 2.7% in the fourth quarter. MetLife Investment Management LLC now owns 41,548 shares of the company’s stock valued at $939,000 after purchasing an additional 1,078 shares during the period. Smartleaf Asset Management LLC raised its position in shares of MillerKnoll by 458.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock worth $33,000 after acquiring an additional 1,201 shares during the last quarter. KBC Group NV boosted its stake in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock valued at $75,000 after purchasing an additional 1,281 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in shares of MillerKnoll by 228.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock valued at $47,000 after purchasing an additional 1,448 shares in the last quarter. Institutional investors own 87.50% of the company’s stock.

MillerKnoll Company Profile

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.