Sidoti Upgrades MillerKnoll (NASDAQ:MLKN) to “Hold”

Sidoti upgraded shares of MillerKnoll (NASDAQ:MLKN) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

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

MillerKnoll Trading Down 1.5 %

NASDAQ:MLKN opened at $18.34 on Tuesday. MillerKnoll has a one year low of $17.83 and a one year high of $31.73. The company’s 50-day simple moving average is $21.28 and its 200 day simple moving average is $23.16. The firm has a market capitalization of $1.25 billion, a P/E ratio of 20.15, a PEG 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.

MillerKnoll (NASDAQ:MLKN) last released its earnings results on Wednesday, March 26th. The company reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. The business had revenue of $876.20 million for the quarter, compared to the consensus estimate of $918.88 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, analysts forecast that MillerKnoll will post 2.12 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, February 28th. This represents a $0.75 annualized dividend and a dividend yield of 4.09%. MillerKnoll’s payout ratio is 82.42%.

Institutional Investors Weigh In On MillerKnoll

A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of MillerKnoll by 939.8% during the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock valued at $960,000 after buying an additional 35,054 shares during the period. 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 MillerKnoll by 45.9% in the third 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 during the last quarter. Smartleaf Asset Management LLC boosted its position in MillerKnoll by 458.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock worth $33,000 after purchasing an additional 1,201 shares during the last quarter. Finally, 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 valued at $8,528,000 after purchasing an additional 18,378 shares during the period. 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.