MillerKnoll (NASDAQ:MLKN) Upgraded at StockNews.com

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

MillerKnoll Trading Down 2.7 %

MLKN opened at $22.39 on Friday. The company has a market cap of $1.55 billion, a P/E ratio of 25.74, a PEG ratio of 0.96 and a beta of 1.20. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $24.39 and its 200-day moving average is $26.11. MillerKnoll has a 1-year low of $20.89 and a 1-year high of $31.73.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. The firm had revenue of $970.40 million for the quarter, compared to analyst estimates of $959.60 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. Equities research analysts predict that MillerKnoll will post 2.17 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Saturday, November 30th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.75 annualized dividend and a yield of 3.35%. MillerKnoll’s dividend payout ratio is presently 82.42%.

Institutional Trading of MillerKnoll

Several hedge funds and other institutional investors have recently made changes to their positions in MLKN. EverSource Wealth Advisors LLC raised its holdings in MillerKnoll by 254.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,201 shares of the company’s stock valued at $32,000 after buying an additional 862 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of MillerKnoll by 35.0% during the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company’s stock valued at $41,000 after acquiring an additional 426 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of MillerKnoll during the third quarter valued at $84,000. Innealta Capital LLC acquired a new position in shares of MillerKnoll during the second quarter worth $87,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in MillerKnoll by 99.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,640 shares of the company’s stock valued at $112,000 after purchasing an additional 2,316 shares during the period. 87.50% of the stock is currently owned by institutional investors.

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.