MillerKnoll (NASDAQ:MLKN) Issues Earnings Results, Beats Expectations By $0.01 EPS

MillerKnoll (NASDAQ:MLKN) posted its quarterly earnings data on Wednesday. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01, Briefing.com reports. The business had revenue of $872.30 million during the quarter, compared to the consensus estimate of $909.55 million. MillerKnoll had a net margin of 1.33% and a return on equity of 10.06%. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 earnings per share.

MillerKnoll Price Performance

MLKN stock opened at $30.53 on Thursday. The firm has a 50 day moving average of $28.76 and a 200-day moving average of $26.10. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. MillerKnoll has a 12 month low of $13.20 and a 12 month high of $31.33. The firm has a market capitalization of $2.22 billion, a P/E ratio of 44.90, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd will be given a $0.1875 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.46%. MillerKnoll’s dividend payout ratio (DPR) is currently 110.30%.

Institutional Investors Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in MillerKnoll in the first quarter valued at approximately $288,708,000. Vanguard Group Inc. increased its stake in shares of MillerKnoll by 0.8% in the third quarter. Vanguard Group Inc. now owns 7,277,077 shares of the company’s stock worth $113,523,000 after buying an additional 58,044 shares during the period. State Street Corp increased its stake in shares of MillerKnoll by 2.6% in the third quarter. State Street Corp now owns 2,511,435 shares of the company’s stock worth $39,644,000 after buying an additional 63,194 shares during the period. Eaton Vance Management purchased a new position in shares of MillerKnoll in the first quarter worth $81,726,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of MillerKnoll in the first quarter worth $68,747,000. 87.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of MillerKnoll from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th.

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.