MillerKnoll (NASDAQ:MLKN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of MillerKnoll (NASDAQ:MLKN) from a hold rating to a buy rating in a research report released on Friday.

MillerKnoll Stock Down 2.7 %

NASDAQ:MLKN opened at $22.39 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.93 and a current ratio of 1.59. MillerKnoll has a 52-week low of $20.89 and a 52-week high of $31.73. The company has a market cap of $1.55 billion, a PE ratio of 25.74, a PEG ratio of 0.96 and a beta of 1.20. The stock has a 50-day simple moving average of $24.39 and a 200 day simple moving average of $26.12.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, December 18th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The company had revenue of $970.40 million during the quarter, compared to analysts’ expectations of $959.60 million. During the same quarter last year, the company posted $0.59 EPS. MillerKnoll’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that MillerKnoll will post 2.17 EPS for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Saturday, November 30th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, November 29th. This represents a $0.75 annualized dividend and a dividend yield of 3.35%. MillerKnoll’s dividend payout ratio (DPR) is presently 86.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MLKN. FMR LLC boosted its position in shares of MillerKnoll by 939.8% during the 3rd quarter. FMR LLC now owns 38,784 shares of the company’s stock worth $960,000 after purchasing an additional 35,054 shares in the last quarter. Forager Capital Management LLC boosted its stake in shares of MillerKnoll by 45.9% in the 3rd quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock worth $23,617,000 after buying an additional 300,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of MillerKnoll by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,269 shares of the company’s stock valued at $1,067,000 after purchasing an additional 1,463 shares during the last quarter. Versor Investments LP bought a new stake in MillerKnoll in the third quarter worth about $723,000. Finally, Disciplined Growth Investors Inc. MN lifted its stake in MillerKnoll by 157.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock valued at $21,110,000 after purchasing an additional 521,318 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

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.