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

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

Separately, Sidoti upgraded MillerKnoll to a “hold” rating in a report on Tuesday, March 25th.

MillerKnoll Stock Down 3.1 %

MLKN stock opened at $19.14 on Friday. MillerKnoll has a fifty-two week low of $17.83 and a fifty-two week high of $31.73. 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 business has a 50-day moving average of $21.16 and a 200-day moving average of $23.00. The stock has a market capitalization of $1.30 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.89 and a beta of 1.22.

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

MillerKnoll Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.92%. MillerKnoll’s dividend payout ratio (DPR) is currently 178.57%.

Institutional Investors Weigh In On MillerKnoll

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in MillerKnoll by 458.4% during the 4th 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 period. Avior Wealth Management LLC boosted its stake in shares of MillerKnoll by 228.8% during the fourth 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. Studio Investment Management LLC grew its holdings in 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 last quarter. Sterling Capital Management LLC increased its holdings in MillerKnoll by 793.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock valued at $50,000 after purchasing an additional 1,952 shares during the period. Finally, KBC Group NV increased its stake in shares of MillerKnoll by 62.9% in the fourth quarter. KBC Group NV now owns 3,319 shares of the company’s stock valued at $75,000 after buying an additional 1,281 shares during the period. Institutional investors and hedge funds 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.