MillerKnoll (NASDAQ:MLKN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of MillerKnoll (NASDAQ:MLKN) in a report published on Thursday. The brokerage issued a hold rating on the stock.

MillerKnoll Price Performance

MillerKnoll stock opened at $18.18 on Thursday. MillerKnoll has a 52-week low of $13.20 and a 52-week high of $25.27. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 0.86 and a beta of 1.44. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average is $18.58 and its 200 day moving average is $17.75.

MillerKnoll (NASDAQ:MLKN) last announced its earnings results on Wednesday, July 12th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. MillerKnoll had a net margin of 1.03% and a return on equity of 9.87%. The business had revenue of $956.70 million for the quarter, compared to the consensus estimate of $945.60 million. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was down 13.1% on a year-over-year basis. Sell-side analysts forecast that MillerKnoll will post 1.8 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 2nd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Thursday, August 31st. MillerKnoll’s dividend payout ratio is currently 133.93%.

Insider Activity

In related news, Director Michael A. Volkema purchased 13,584 shares of MillerKnoll stock in a transaction that occurred on Tuesday, July 18th. The shares were bought at an average price of $16.95 per share, with a total value of $230,248.80. Following the purchase, the director now directly owns 200,670 shares of the company’s stock, valued at approximately $3,401,356.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of MillerKnoll in the 1st quarter valued at about $288,708,000. Vanguard Group Inc. raised its holdings in shares of MillerKnoll by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,277,077 shares of the company’s stock valued at $113,523,000 after purchasing an additional 58,044 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of MillerKnoll by 16.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,998,079 shares of the company’s stock valued at $105,010,000 after purchasing an additional 687,533 shares in the last quarter. Scharf Investments LLC raised its holdings in shares of MillerKnoll by 14.1% in the 2nd quarter. Scharf Investments LLC now owns 4,835,179 shares of the company’s stock valued at $71,464,000 after purchasing an additional 599,023 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of MillerKnoll by 2.6% in the 3rd quarter. State Street Corp now owns 2,511,435 shares of the company’s stock valued at $39,644,000 after purchasing an additional 63,194 shares in the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

About MillerKnoll

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.