MillerKnoll, Inc. (NASDAQ:MLKN) Sees Large Growth in Short Interest

MillerKnoll, Inc. (NASDAQ:MLKN) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 2,821,267 shares, an increase of 14.8% from the March 31st total of 2,457,868 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average trading volume of 1,003,499 shares, the short-interest ratio is currently 2.8 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MLKN shares. Zacks Research lowered MillerKnoll from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Wall Street Zen lowered MillerKnoll from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. William Blair started coverage on MillerKnoll in a report on Tuesday, February 10th. They issued an “outperform” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MillerKnoll in a report on Friday, April 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

MillerKnoll Stock Performance

MLKN stock opened at $16.21 on Friday. The firm has a market cap of $1.11 billion, a PE ratio of 115.79, a P/E/G ratio of 0.73 and a beta of 1.41. The company has a quick ratio of 0.92, a current ratio of 1.64 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $17.63 and a 200-day moving average of $17.73. MillerKnoll has a 12-month low of $13.77 and a 12-month high of $23.18.

MillerKnoll (NASDAQ:MLKN) last released its earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%. The business had revenue of $926.60 million during the quarter, compared to the consensus estimate of $941.95 million. During the same period in the prior year, the company earned $0.44 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect that MillerKnoll will post 1.83 earnings per share for the current year.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Saturday, May 30th will be paid a $0.1875 dividend. The ex-dividend date is Friday, May 29th. This represents a $0.75 annualized dividend and a yield of 4.6%. MillerKnoll’s dividend payout ratio is presently 535.71%.

Hedge Funds Weigh In On MillerKnoll

Institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its stake in MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after purchasing an additional 519 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in MillerKnoll in the fourth quarter valued at approximately $46,000. Harbour Investments Inc. lifted its stake in MillerKnoll by 47.7% in the fourth quarter. Harbour Investments Inc. now owns 3,095 shares of the company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in MillerKnoll in the third quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in MillerKnoll in the second quarter valued at approximately $82,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.

About MillerKnoll

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.