MillerKnoll (NASDAQ:MLKN) Hits New 1-Year High – Here’s Why

MillerKnoll, Inc. (NASDAQ:MLKN)’s stock price hit a new 52-week high on Monday . The stock traded as high as $23.85 and last traded at $23.8730, with a volume of 121109 shares changing hands. The stock had previously closed at $22.52.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings raised MillerKnoll from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Wall Street Zen cut MillerKnoll from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, Zacks Research upgraded shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

MillerKnoll Trading Up 6.2%

The firm has a market capitalization of $1.63 billion, a P/E ratio of 18.13, a PEG ratio of 0.93 and a beta of 1.35. The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $18.67 and a 200-day moving average price of $18.37.

MillerKnoll (NASDAQ:MLKN) last issued its earnings results on Wednesday, June 24th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. MillerKnoll had a return on equity of 9.77% and a net margin of 2.38%.The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $973.87 million. During the same period last year, the business earned $0.60 earnings per share. MillerKnoll’s quarterly revenue was up 4.4% compared to the same quarter last year. MillerKnoll has set its FY 2027 guidance at 1.850-2.150 EPS and its Q1 2027 guidance at 0.330-0.390 EPS. Analysts anticipate that MillerKnoll, Inc. will post 2.02 earnings per share for the current year.

MillerKnoll Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be paid a $0.1875 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.1%. MillerKnoll’s dividend payout ratio is currently 56.82%.

Institutional Trading of MillerKnoll

Institutional investors have recently made changes to their positions in the business. Cassaday & Co Wealth Management LLC bought a new stake in MillerKnoll in the first quarter valued at about $26,000. Versant Capital Management Inc lifted its stake in MillerKnoll by 166.5% during the second quarter. Versant Capital Management Inc now owns 1,250 shares of the company’s stock worth $26,000 after purchasing an additional 781 shares during the period. Osaic Holdings Inc. boosted its holdings in MillerKnoll by 36.5% during the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after purchasing an additional 519 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in MillerKnoll during the fourth quarter valued at approximately $46,000. Finally, KBC Group NV grew its stake in shares of MillerKnoll by 92.1% in the 1st quarter. KBC Group NV now owns 3,803 shares of the company’s stock valued at $55,000 after purchasing an additional 1,823 shares during the period. 87.50% of the stock is currently owned by institutional investors and hedge funds.

About MillerKnoll

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.