StockNews.com Downgrades MillerKnoll (NASDAQ:MLKN) to Hold

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

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

MillerKnoll Stock Performance

NASDAQ:MLKN opened at $19.76 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 0.89 and a beta of 1.22. MillerKnoll has a 1 year low of $17.83 and a 1 year high of $31.73. The firm has a 50 day moving average of $21.22 and a 200-day moving average of $23.07. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 1.02.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $876.20 million during 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 business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, sell-side analysts anticipate 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. Investors of record on Saturday, March 1st will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s dividend payout ratio (DPR) is presently 82.42%.

Institutional Investors Weigh In On MillerKnoll

Several hedge funds and other institutional investors have recently made changes to their positions in MLKN. Dimensional Fund Advisors LP lifted its stake in shares of MillerKnoll by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,820,581 shares of the company’s stock valued at $86,306,000 after acquiring an additional 121,478 shares during the period. Deprince Race & Zollo Inc. bought a new stake in MillerKnoll during the 4th quarter worth about $32,283,000. Charles Schwab Investment Management Inc. lifted its position in MillerKnoll by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,312,945 shares of the company’s stock valued at $29,659,000 after purchasing an additional 42,343 shares during the period. Vulcan Value Partners LLC boosted its stake in shares of MillerKnoll by 12.8% in the 4th quarter. Vulcan Value Partners LLC now owns 1,252,093 shares of the company’s stock valued at $28,285,000 after purchasing an additional 141,936 shares during the last quarter. Finally, Forager Capital Management LLC grew its position in shares of MillerKnoll by 23.9% during the 4th quarter. Forager Capital Management LLC now owns 1,181,841 shares of the company’s stock worth $26,698,000 after buying an additional 228,000 shares during the period. 87.50% of the stock is owned by institutional investors and hedge funds.

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.