MillerKnoll (NASDAQ:MLKN) Upgraded to Strong-Buy by upgraded shares of MillerKnoll (NASDAQ:MLKNFree Report) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday.

MillerKnoll Stock Performance

NASDAQ MLKN opened at $26.42 on Thursday. The company’s fifty day moving average is $26.38 and its two-hundred day moving average is $27.28. MillerKnoll has a 52-week low of $14.14 and a 52-week high of $31.33. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.59 and a quick ratio of 0.95. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 0.95 and a beta of 1.26.

MillerKnoll (NASDAQ:MLKNGet Free Report) last released its earnings results on Wednesday, June 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.14. MillerKnoll had a net margin of 2.27% and a return on equity of 10.89%. The business had revenue of $888.90 million during the quarter, compared to analysts’ expectations of $898.65 million. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. Equities research analysts forecast that MillerKnoll will post 2.3 EPS for the current year.

MillerKnoll Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Saturday, June 1st will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.84%. MillerKnoll’s payout ratio is 67.57%.

Institutional Investors Weigh In On MillerKnoll

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of MillerKnoll by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 60,650 shares of the company’s stock valued at $1,502,000 after buying an additional 2,544 shares in the last quarter. Rodgers Brothers Inc. raised its position in MillerKnoll by 6.4% in the first quarter. Rodgers Brothers Inc. now owns 78,895 shares of the company’s stock worth $1,953,000 after purchasing an additional 4,754 shares in the last quarter. EntryPoint Capital LLC lifted its stake in MillerKnoll by 566.9% during the first quarter. EntryPoint Capital LLC now owns 2,661 shares of the company’s stock worth $66,000 after purchasing an additional 2,262 shares during the period. Vanguard Group Inc. boosted its holdings in MillerKnoll by 2.6% during the first quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after purchasing an additional 226,792 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its stake in shares of MillerKnoll by 173.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 163,572 shares of the company’s stock valued at $4,050,000 after purchasing an additional 103,826 shares during the period. Institutional investors and hedge funds own 87.50% of the company’s stock.

About MillerKnoll

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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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