MillerKnoll (NASDAQ:MLKN) Sets New 12-Month Low - Here's Why

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $18.28 and last traded at $18.94, with a volume of 1782119 shares traded. The stock had previously closed at $18.96.

Analyst Upgrades and Downgrades

MLKN has been the topic of several research reports. StockNews.com upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research note on Wednesday, January 15th. Sidoti raised shares of MillerKnoll to a "hold" rating in a research report on Tuesday.

MillerKnoll Stock Performance

The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 0.89 and a beta of 1.22. The stock's 50 day moving average price is $21.26 and its 200 day moving average price is $23.14. 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 - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. The business had revenue of $876.20 million for the quarter, compared to analyst estimates 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 prior year, the company posted $0.45 earnings per share. Analysts expect that MillerKnoll, Inc. will post 2.12 earnings per share for the current year.

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MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Saturday, March 1st will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.81%. MillerKnoll's dividend payout ratio is presently 82.42%.

Institutional Trading of MillerKnoll

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of MillerKnoll by 39.9% during the 4th quarter. Wellington Management Group LLP now owns 804,105 shares of the company's stock worth $18,165,000 after purchasing an additional 229,283 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in MillerKnoll during the fourth quarter worth approximately $6,576,000. Mackenzie Financial Corp increased its position in MillerKnoll by 235.1% during the fourth quarter. Mackenzie Financial Corp now owns 30,966 shares of the company's stock worth $700,000 after buying an additional 21,724 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MillerKnoll by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,833 shares of the company's stock valued at $4,175,000 after buying an additional 25,413 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of MillerKnoll in the fourth quarter valued at approximately $2,680,000. Institutional investors and hedge funds own 87.50% of the company's stock.

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.