Insider Selling: MillerKnoll, Inc. (NASDAQ:MLKN) Insider Sells 570 Shares of Stock

MillerKnoll, Inc. (NASDAQ:MLKNGet Rating) insider Richard Scott sold 570 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $28.36, for a total value of $16,165.20. Following the completion of the transaction, the insider now owns 2,264 shares of the company’s stock, valued at $64,207.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

MillerKnoll Stock Down 2.0 %

Shares of MLKN opened at $28.38 on Friday. MillerKnoll, Inc. has a 12 month low of $25.39 and a 12 month high of $45.75. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -52.55 and a beta of 1.20. The company has a 50-day moving average price of $28.43 and a two-hundred day moving average price of $32.80. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.97.

MillerKnoll (NASDAQ:MLKNGet Rating) last posted its earnings results on Wednesday, June 29th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. MillerKnoll had a positive return on equity of 9.50% and a negative net margin of 0.78%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $0.56 EPS. MillerKnoll’s revenue was up 77.1% on a year-over-year basis.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Saturday, May 28th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Thursday, May 26th. MillerKnoll’s dividend payout ratio (DPR) is currently -138.89%.

Hedge Funds Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of MillerKnoll in the first quarter valued at approximately $288,708,000. Vanguard Group Inc. bought a new position in MillerKnoll in the 1st quarter valued at $245,927,000. Beutel Goodman & Co Ltd. acquired a new position in MillerKnoll in the first quarter worth $188,349,000. Scharf Investments LLC bought a new stake in shares of MillerKnoll during the second quarter worth $97,750,000. Finally, State Street Corp acquired a new stake in shares of MillerKnoll in the first quarter valued at $85,709,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Craig Hallum dropped their price objective on shares of MillerKnoll from $60.00 to $50.00 in a research note on Thursday, June 30th.

MillerKnoll Company Profile

(Get Rating)

MillerKnoll, Inc manufactures and distributes interior furnishings worldwide. It operates through North America Contract, International Contract, and Retail segments. The company offers seating products under the Embody, Aeron, Mirra2, Setu, Sayl, Verus, Cosm, Lino, Verus, Celle, Equa, Taper, and Ergon names; and modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, Prospect, Overlay, Resolve, and OE1 names.

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