MillerKnoll (NASDAQ:MLKN) Hits New 12-Month Low - Time to Sell?

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $20.23 and last traded at $20.22, with a volume of 19093 shares. The stock had previously closed at $20.51.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of MillerKnoll from a "hold" rating to a "buy" rating in a report on Wednesday, January 15th.

MillerKnoll Trading Down 1.7 %

The company has a 50 day moving average price of $22.00 and a two-hundred day moving average price of $23.95. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 22.13, 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 (NASDAQ:MLKN - Get Free Report) last issued its earnings results 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 10.74% and a net margin of 1.81%. The business had revenue of $970.40 million for the quarter, compared to analysts' expectations of $959.60 million. During the same period in the previous year, the firm posted $0.59 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be given 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 3.72%. MillerKnoll's payout ratio is 82.42%.

Institutional Trading of MillerKnoll

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in shares of MillerKnoll by 939.8% in the 3rd 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. Jane Street Group LLC lifted its stake in MillerKnoll by 56.6% during the third quarter. Jane Street Group LLC now owns 90,960 shares of the company's stock worth $2,252,000 after purchasing an additional 32,861 shares in the last quarter. Forager Capital Management LLC grew its stake in shares of MillerKnoll by 45.9% in the third quarter. Forager Capital Management LLC now owns 953,841 shares of the company's stock valued at $23,617,000 after buying an additional 300,000 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of MillerKnoll by 5.1% in the 4th quarter. Empowered Funds LLC now owns 377,522 shares of the company's stock valued at $8,528,000 after buying an additional 18,378 shares during the period. Finally, Barclays PLC lifted its stake in MillerKnoll by 37.7% during the 3rd quarter. Barclays PLC now owns 119,389 shares of the company's stock worth $2,957,000 after acquiring an additional 32,686 shares in the last quarter. Institutional investors and hedge funds 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.

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