MillerKnoll, Inc. (NASDAQ:MLKN – Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $30.53, but opened at $23.90. MillerKnoll shares last traded at $25.54, with a volume of 609,726 shares traded.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded MillerKnoll from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th.
Read Our Latest Stock Report on MLKN
MillerKnoll Price Performance
MillerKnoll (NASDAQ:MLKN – Get Free Report) last released its quarterly earnings results on Wednesday, March 27th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $909.55 million. MillerKnoll had a return on equity of 10.06% and a net margin of 1.33%. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Research analysts predict that MillerKnoll, Inc. will post 2.07 EPS for the current year.
MillerKnoll Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s dividend payout ratio is presently 110.30%.
Hedge Funds Weigh In On MillerKnoll
Several institutional investors have recently added to or reduced their stakes in MLKN. Raymond James & Associates purchased a new position in MillerKnoll during the 1st quarter valued at approximately $3,686,000. American Century Companies Inc. bought a new stake in shares of MillerKnoll in the 1st quarter valued at approximately $1,005,000. US Bancorp DE bought a new stake in shares of MillerKnoll in the 1st quarter valued at approximately $36,000. HighTower Advisors LLC bought a new stake in shares of MillerKnoll in the 1st quarter valued at approximately $570,000. Finally, Citigroup Inc. bought a new stake in shares of MillerKnoll in the 1st quarter valued at approximately $315,000. 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.
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