MillerKnoll (NASDAQ:MLKN) Sets New 52-Week Low - Here's What Happened

Shares of MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $15.31 and last traded at $15.38, with a volume of 37329 shares changing hands. The stock had previously closed at $15.72.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Sidoti raised shares of MillerKnoll to a "hold" rating in a research report on Tuesday, March 25th. StockNews.com downgraded MillerKnoll from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th.

MillerKnoll Stock Performance

The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99. The firm has a fifty day simple moving average of $18.93 and a two-hundred day simple moving average of $21.87.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The company had revenue of $876.20 million for the quarter, compared to the consensus estimate of $918.88 million. During the same quarter in the previous year, the firm earned $0.45 EPS. MillerKnoll's revenue was up .4% compared to the same quarter last year. On average, analysts expect that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Sunday, June 1st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.75 dividend on an annualized basis and a yield of 4.62%. MillerKnoll's dividend payout ratio is currently 178.57%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MLKN. Smartleaf Asset Management LLC boosted its position in MillerKnoll by 458.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company's stock valued at $33,000 after buying an additional 1,201 shares during the last quarter. Amundi lifted its stake in MillerKnoll by 207.3% during the 4th quarter. Amundi now owns 40,433 shares of the company's stock valued at $884,000 after acquiring an additional 27,276 shares during the period. Barclays PLC boosted its holdings in shares of MillerKnoll by 37.7% in the 3rd quarter. Barclays PLC now owns 119,389 shares of the company's stock valued at $2,957,000 after acquiring an additional 32,686 shares during the last quarter. Empowered Funds LLC increased its stake in shares of MillerKnoll by 5.1% in the fourth quarter. Empowered Funds LLC now owns 377,522 shares of the company's stock worth $8,528,000 after acquiring an additional 18,378 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of MillerKnoll by 17.4% during the fourth quarter. Victory Capital Management Inc. now owns 275,948 shares of the company's stock worth $6,234,000 after purchasing an additional 40,928 shares during the last quarter. 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.