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

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $18.35 and last traded at $19.03, with a volume of 399 shares trading hands. The stock had previously closed at $19.13.

Wall Street Analyst Weigh In

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

MillerKnoll Price Performance

The firm has a market cap of $1.31 billion, a P/E ratio of 20.88, a PEG ratio of 0.89 and a beta of 1.22. 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 company’s 50-day moving average is $21.75 and its two-hundred day moving average is $23.66.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, December 18th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The firm had revenue of $970.40 million during the quarter, compared to analysts’ expectations of $959.60 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Friday, February 28th. MillerKnoll’s dividend payout ratio is currently 82.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in MillerKnoll by 458.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,463 shares of the company’s stock valued at $33,000 after purchasing an additional 1,201 shares during the period. Avior Wealth Management LLC grew its position in shares of MillerKnoll by 228.8% during the 4th quarter. Avior Wealth Management LLC now owns 2,081 shares of the company’s stock worth $47,000 after buying an additional 1,448 shares during the period. Studio Investment Management LLC grew its position in shares of MillerKnoll by 29.9% during the 4th quarter. Studio Investment Management LLC now owns 2,149 shares of the company’s stock worth $49,000 after buying an additional 495 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of MillerKnoll by 793.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,198 shares of the company’s stock worth $50,000 after purchasing an additional 1,952 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of MillerKnoll by 62.9% in the 4th quarter. KBC Group NV now owns 3,319 shares of the company’s stock worth $75,000 after purchasing an additional 1,281 shares in the last quarter. 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.