MillerKnoll (NASDAQ:MLKN) Reaches New 1-Year Low – Should You Sell?

MillerKnoll, Inc. (NASDAQ:MLKN)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.80 and last traded at $13.8510, with a volume of 31934 shares. The stock had previously closed at $13.93.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of MillerKnoll from a “hold” rating to a “buy” rating in a report on Sunday, November 2nd. Zacks Research raised MillerKnoll from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of MillerKnoll in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

MillerKnoll Stock Up 1.1%

The stock has a fifty day simple moving average of $16.90 and a two-hundred day simple moving average of $18.32. The company has a current ratio of 1.67, a quick ratio of 0.96 and a debt-to-equity ratio of 1.02. The firm has a market cap of $972.30 million, a PE ratio of -56.92, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, February 16th. The company reported $0.35 earnings per share for the quarter. MillerKnoll had a positive return on equity of 10.96% and a negative net margin of 0.41%.The company had revenue of $92.95 million during the quarter. As a group, sell-side analysts expect that MillerKnoll, Inc. will post 2.12 EPS for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Saturday, November 29th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Friday, November 28th. MillerKnoll’s dividend payout ratio (DPR) is -300.00%.

Hedge Funds Weigh In On MillerKnoll

Hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its stake in shares of MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock worth $38,000 after acquiring an additional 519 shares during the period. Summit Securities Group LLC purchased a new stake in shares of MillerKnoll during the first quarter worth about $70,000. Johnson Financial Group Inc. bought a new stake in shares of MillerKnoll during the third quarter valued at approximately $72,000. Canada Pension Plan Investment Board purchased a new stake in MillerKnoll in the 2nd quarter worth $82,000. Finally, Strs Ohio purchased a new stake in shares of MillerKnoll during the 3rd quarter worth approximately $85,000. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

About MillerKnoll

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.