MillerKnoll (NASDAQ:MLKN) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

MillerKnoll, Inc. (NASDAQ:MLKN) shares crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $21.31 and traded as high as $21.56. MillerKnoll shares last traded at $21.33, with a volume of 435,410 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MLKN shares. Benchmark upgraded MillerKnoll from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, MillerKnoll has a consensus rating of “Moderate Buy”.

MillerKnoll Stock Performance

The stock’s 50-day simple moving average is $21.28 and its 200 day simple moving average is $19.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.65. The company has a market capitalization of $1.48 billion, a PE ratio of 15.24, a P/E/G ratio of 0.88 and a beta of 1.36.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Tuesday, September 22nd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.18. MillerKnoll had a net margin of 2.57% and a return on equity of 10.10%. The business had revenue of $923.40 million during the quarter, compared to analysts’ expectations of $940.93 million. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q2 2027 guidance at 0.430-0.490 EPS. As a group, research analysts expect that MillerKnoll, Inc. will post 2.02 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Saturday, November 28th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.5%. MillerKnoll’s dividend payout ratio (DPR) is currently 53.19%.

Institutional Trading of MillerKnoll

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC purchased a new stake in MillerKnoll during the first quarter worth $26,000. Versant Capital Management Inc raised its stake in shares of MillerKnoll by 166.5% during the 2nd quarter. Versant Capital Management Inc now owns 1,250 shares of the company’s stock worth $26,000 after buying an additional 781 shares during the last quarter. Nykredit A S purchased a new stake in shares of MillerKnoll in the 2nd quarter worth about $28,000. Quantbot Technologies LP acquired a new stake in MillerKnoll in the 2nd quarter valued at about $29,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in MillerKnoll in the 2nd quarter valued at about $41,000. 87.50% of the stock is owned by hedge funds and other institutional investors.

About MillerKnoll

MillerKnoll, Inc is a global design company that develops and sells furnishings, accessories and related products for workplaces, homes, healthcare facilities, educational institutions and hospitality environments. Its offerings include office seating, desks, tables, storage, lighting, textiles and architectural products, along with residential furniture and decorative accessories.

The company markets products through a portfolio of brands that includes Herman Miller, Knoll, Design Within Reach, HAY, Muuto, Maharam, Geiger, Holly Hunt, Edelman Leather, DatesWeiser and Colebrook Bosson Saunders.