MillerKnoll (NASDAQ:MLKN) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of MillerKnoll (NASDAQ:MLKN) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

MillerKnoll Trading Down 18.9 %

Shares of MLKN stock opened at $24.76 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.93 and a current ratio of 1.59. MillerKnoll has a fifty-two week low of $13.20 and a fifty-two week high of $31.33. The stock has a 50 day simple moving average of $28.75 and a two-hundred day simple moving average of $26.27. The company has a market cap of $1.80 billion, a P/E ratio of 25.53, a PEG ratio of 1.06 and a beta of 1.31.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, March 27th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. MillerKnoll had a return on equity of 9.61% and a net margin of 1.96%. The firm had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $909.55 million. During the same quarter last year, the firm posted $0.54 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Research analysts forecast that MillerKnoll will post 1.94 earnings per share for the current year.

MillerKnoll Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Saturday, March 2nd will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, February 29th. This represents a $0.75 annualized dividend and a dividend yield of 3.03%. MillerKnoll’s payout ratio is 77.32%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE purchased a new position in MillerKnoll in the first quarter worth $36,000. Nomura Asset Management Co. Ltd. boosted its position in MillerKnoll by 100.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,140 shares of the company’s stock worth $30,000 after purchasing an additional 570 shares during the last quarter. Captrust Financial Advisors purchased a new position in MillerKnoll in the first quarter worth $41,000. International Assets Investment Management LLC boosted its position in MillerKnoll by 1,117.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,330 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in MillerKnoll in the third quarter worth $36,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.

MillerKnoll Company Profile

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.