MillerKnoll (NASDAQ:MLKN) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN) from a buy rating to a strong-buy rating in a report issued on Thursday morning.

MillerKnoll Trading Up 0.3 %

Shares of MLKN opened at $26.49 on Thursday. MillerKnoll has a twelve month low of $14.32 and a twelve month high of $31.33. The company has a current ratio of 1.54, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $1.90 billion, a P/E ratio of 23.86, a PEG ratio of 1.00 and a beta of 1.26. The firm’s 50-day moving average is $26.40 and its two-hundred day moving average is $27.27.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.53 by $0.14. MillerKnoll had a return on equity of 10.94% and a net margin of 2.27%. The business had revenue of $888.90 million for the quarter, compared to analyst estimates of $898.65 million. During the same quarter in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts predict that MillerKnoll will post 2.21 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Saturday, June 1st will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, May 31st. MillerKnoll’s dividend payout ratio (DPR) is presently 67.57%.

Institutional Investors Weigh In On MillerKnoll

A number of large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its position in MillerKnoll by 6.4% during the third quarter. HighTower Advisors LLC now owns 21,431 shares of the company’s stock worth $521,000 after acquiring an additional 1,290 shares during the last quarter. Deutsche Bank AG grew its stake in shares of MillerKnoll by 14.0% during the third quarter. Deutsche Bank AG now owns 37,277 shares of the company’s stock valued at $911,000 after acquiring an additional 4,568 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of MillerKnoll by 101.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,104 shares of the company’s stock worth $76,000 after acquiring an additional 1,561 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of MillerKnoll by 517.9% in the third quarter. Envestnet Asset Management Inc. now owns 211,481 shares of the company’s stock worth $5,171,000 after buying an additional 177,254 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in MillerKnoll by 159.2% in the third quarter. Hsbc Holdings PLC now owns 51,466 shares of the company’s stock valued at $1,247,000 after buying an additional 31,607 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

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.