Shares of MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report) dropped 3.1% during trading on Friday . The company traded as low as $22.25 and last traded at $22.29. Approximately 516,167 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 641,747 shares. The stock had previously closed at $23.00.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut shares of MillerKnoll from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th.
View Our Latest Analysis on MLKN
MillerKnoll Trading Down 2.7 %
The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $24.42 and a 200-day moving average price of $26.15.
MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $970.40 million during the quarter, compared to the consensus estimate of $959.60 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. MillerKnoll's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.59 earnings per share. As a group, research analysts expect that MillerKnoll, Inc. will post 2.17 EPS for the current fiscal year.
MillerKnoll Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 3.35%. The ex-dividend date of this dividend is Friday, November 29th. MillerKnoll's payout ratio is 86.21%.
Hedge Funds Weigh In On MillerKnoll
Institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of MillerKnoll by 15.3% during the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company's stock worth $106,370,000 after acquiring an additional 532,427 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in MillerKnoll by 157.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company's stock valued at $21,110,000 after purchasing an additional 521,318 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in MillerKnoll by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company's stock valued at $89,864,000 after purchasing an additional 377,121 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in MillerKnoll by 127.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 547,540 shares of the company's stock worth $13,557,000 after purchasing an additional 307,210 shares during the last quarter. Finally, Forager Capital Management LLC raised its position in shares of MillerKnoll by 45.9% in the 3rd quarter. Forager Capital Management LLC now owns 953,841 shares of the company's stock valued at $23,617,000 after purchasing an additional 300,000 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company's stock.
About MillerKnoll
(
Get Free Report)
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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