MillerKnoll (NASDAQ:MLKN) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of MillerKnoll (NASDAQ:MLKN - Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.

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

MillerKnoll Price Performance

Shares of MillerKnoll stock traded up $0.02 on Friday, reaching $19.22. 738,021 shares of the stock were exchanged, compared to its average volume of 597,428. The firm's 50 day moving average is $21.05 and its 200-day moving average is $22.92. The firm has a market cap of $1.31 billion, a PE ratio of 21.12, a P/E/G ratio of 0.89 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60. MillerKnoll has a one year low of $17.83 and a one year high of $31.73.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $918.88 million. MillerKnoll had a return on equity of 10.74% and a net margin of 1.81%. MillerKnoll's revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, analysts anticipate that MillerKnoll will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Saturday, March 1st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 3.90%. The ex-dividend date is Friday, February 28th. MillerKnoll's payout ratio is presently 178.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in MillerKnoll by 939.8% in the third quarter. FMR LLC now owns 38,784 shares of the company's stock valued at $960,000 after acquiring an additional 35,054 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MillerKnoll by 1.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 159,420 shares of the company's stock valued at $3,947,000 after purchasing an additional 2,449 shares during the period. Verition Fund Management LLC bought a new stake in MillerKnoll during the 3rd quarter valued at $210,000. Edgestream Partners L.P. acquired a new position in MillerKnoll during the third quarter worth $881,000. Finally, Paloma Partners Management Co bought a new position in shares of MillerKnoll in the third quarter valued at $684,000. 87.50% of the stock is owned by 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.