MillerKnoll (NASDAQ:MLKN) Hits New 1-Year Low - Here's Why

Shares of MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $21.63 and last traded at $22.81, with a volume of 182416 shares trading hands. The stock had previously closed at $24.33.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered MillerKnoll from a "buy" rating to a "hold" rating in a research note on Thursday, October 10th.

MillerKnoll Stock Performance

The company has a market capitalization of $1.59 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. The stock's 50 day moving average price is $24.42 and its 200 day moving average price is $26.15.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.01. MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The firm had revenue of $970.40 million during the quarter, compared to analyst estimates of $959.60 million. During the same period last year, the company posted $0.59 EPS. The business's quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts expect that MillerKnoll, Inc. will post 2.17 EPS for the current year.

MillerKnoll Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, November 29th. MillerKnoll's payout ratio is 86.21%.

Institutional Trading of MillerKnoll

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in MillerKnoll by 35.0% in the third quarter. GAMMA Investing LLC now owns 1,642 shares of the company's stock worth $41,000 after acquiring an additional 426 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of MillerKnoll by 6.0% in the 2nd quarter. Bank of Montreal Can now owns 13,551 shares of the company's stock worth $359,000 after purchasing an additional 768 shares in the last quarter. EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 862 shares during the period. Hsbc Holdings PLC grew its position in MillerKnoll by 10.3% in the 2nd quarter. Hsbc Holdings PLC now owns 9,761 shares of the company's stock valued at $256,000 after purchasing an additional 908 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in MillerKnoll by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,269 shares of the company's stock valued at $1,067,000 after purchasing an additional 1,463 shares in the last quarter. Institutional investors own 87.50% of the company's stock.

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.