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

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price reached 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 trading hands. The stock had previously closed at $23.01.

Wall Street Analysts Forecast Growth

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

MillerKnoll Stock Performance

The firm’s 50 day moving average is $25.85 and its 200-day moving average is $26.65. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 0.94 and a beta of 1.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $861.50 million for the quarter, compared to analysts’ expectations of $889.38 million. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. Analysts forecast that MillerKnoll, Inc. will post 2.17 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Saturday, November 30th will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 29th. MillerKnoll’s payout ratio is 86.21%.

Institutional Investors Weigh In On MillerKnoll

Several large investors have recently bought and sold shares of MLKN. Nordea Investment Management AB acquired a new position in MillerKnoll in the 1st quarter valued at about $2,933,000. Daiwa Securities Group Inc. increased its holdings in MillerKnoll by 613.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 10,700 shares of the company’s stock worth $265,000 after purchasing an additional 9,200 shares during the period. LSV Asset Management lifted its stake in MillerKnoll by 0.7% in the first quarter. LSV Asset Management now owns 1,059,546 shares of the company’s stock worth $26,234,000 after acquiring an additional 6,846 shares during the last quarter. Empowered Funds LLC acquired a new position in MillerKnoll during the 1st quarter worth approximately $7,311,000. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of MillerKnoll by 3.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 43,682 shares of the company’s stock valued at $1,082,000 after purchasing an additional 1,327 shares in the last quarter. 87.50% of the stock is currently 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.