MillerKnoll (NASDAQ:MLKN) Announces Earnings Results

MillerKnoll (NASDAQ:MLKNGet Free Report) posted its earnings results on Wednesday. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03, FiscalAI reports. MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $973.87 million.

MillerKnoll Trading Up 7.3%

MillerKnoll stock traded up $1.18 during mid-day trading on Wednesday, reaching $17.24. 1,123,344 shares of the company traded hands, compared to its average volume of 745,473. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.64 and a quick ratio of 0.92. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 123.14, a P/E/G ratio of 0.66 and a beta of 1.41. The firm’s 50 day moving average price is $15.85 and its 200 day moving average price is $17.71. MillerKnoll has a 52-week low of $13.77 and a 52-week high of $23.18.

MillerKnoll Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Saturday, May 30th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, May 29th. MillerKnoll’s dividend payout ratio is 535.71%.

Institutional Investors Weigh In On MillerKnoll

A number of large investors have recently made changes to their positions in MLKN. Osaic Holdings Inc. increased its stake in MillerKnoll by 36.5% during 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 last quarter. Johnson Financial Group Inc. acquired a new position in MillerKnoll in the third quarter valued at $72,000. Canada Pension Plan Investment Board acquired a new position in MillerKnoll during the 2nd quarter worth approximately $82,000. Rexford Capital Inc. grew its position in MillerKnoll by 17.0% during the fourth quarter. Rexford Capital Inc. now owns 5,500 shares of the company’s stock worth $101,000 after buying an additional 800 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of MillerKnoll by 21.1% in the fourth quarter. Royal Bank of Canada now owns 6,446 shares of the company’s stock valued at $118,000 after purchasing an additional 1,123 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MLKN has been the subject of a number of recent research reports. Zacks Research raised shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings restated a “sell (d+)” rating on shares of MillerKnoll in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Read Our Latest Analysis on MLKN

MillerKnoll Company Profile

(Get Free Report)

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.

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Earnings History for MillerKnoll (NASDAQ:MLKN)

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