MillerKnoll (NASDAQ:MLKN) Reaches New 52-Week High – Time to Buy?

MillerKnoll, Inc. (NASDAQ:MLKN)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.85 and last traded at $23.8730, with a volume of 121109 shares trading hands. The stock had previously closed at $22.52.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MLKN. Zacks Research upgraded shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings raised MillerKnoll from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of MillerKnoll from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

MillerKnoll Stock Up 1.3%

The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.00 and a beta of 1.36. The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average is $19.02 and its two-hundred day moving average is $18.44.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, June 24th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $973.87 million. MillerKnoll had a net margin of 2.38% and a return on equity of 9.77%. MillerKnoll’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. Equities analysts anticipate that MillerKnoll, Inc. will post 2.02 EPS for the current year.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Saturday, August 29th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a yield of 3.1%. MillerKnoll’s dividend payout ratio (DPR) is presently 56.82%.

Institutional Trading of MillerKnoll

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pzena Investment Management LLC purchased a new stake in shares of MillerKnoll in the first quarter valued at about $28,858,000. Vanguard Group Inc. raised its position in shares of MillerKnoll by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 8,550,194 shares of the company’s stock valued at $156,298,000 after buying an additional 623,035 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of MillerKnoll by 27.2% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,530,994 shares of the company’s stock valued at $46,267,000 after buying an additional 541,638 shares during the period. Wellington Management Group LLP lifted its holdings in MillerKnoll by 46.4% in the fourth quarter. Wellington Management Group LLP now owns 1,305,280 shares of the company’s stock valued at $23,861,000 after acquiring an additional 413,531 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in MillerKnoll by 41.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,259,388 shares of the company’s stock valued at $18,211,000 after acquiring an additional 366,726 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

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.