MillerKnoll (NASDAQ:MLKN) Releases Earnings Results

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

MillerKnoll Price Performance

MLKN stock opened at $30.53 on Thursday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 1.21 and a beta of 1.31. The company has a quick ratio of 0.93, a current ratio of 1.56 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 company’s fifty day simple moving average is $28.76 and its 200 day simple moving average is $26.10.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Saturday, March 2nd will be issued a $0.1875 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.75 annualized dividend and a yield of 2.46%. MillerKnoll’s payout ratio is 110.30%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On MillerKnoll

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in MillerKnoll by 4.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,106 shares of the company’s stock valued at $1,551,000 after buying an additional 2,350 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of MillerKnoll by 40.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,852 shares of the company’s stock valued at $423,000 after purchasing an additional 4,547 shares during the period. Barclays PLC raised its holdings in shares of MillerKnoll by 149.7% during the fourth quarter. Barclays PLC now owns 124,762 shares of the company’s stock valued at $3,329,000 after purchasing an additional 74,802 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of MillerKnoll by 162.0% during the fourth quarter. Nuveen Asset Management LLC now owns 868,486 shares of the company’s stock valued at $23,172,000 after purchasing an additional 536,956 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in shares of MillerKnoll by 63.0% during the fourth quarter. Public Sector Pension Investment Board now owns 152,488 shares of the company’s stock valued at $4,068,000 after purchasing an additional 58,923 shares during the period. Institutional investors and hedge funds own 87.50% of the company’s stock.

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.