MillerKnoll (NASDAQ:MLKN) Reaches New 12-Month Low – Time to Sell?

MillerKnoll, Inc. (NASDAQ:MLKN)’s stock price reached a new 52-week low on Monday . The stock traded as low as $18.28 and last traded at $18.94, with a volume of 1782119 shares changing hands. The stock had previously closed at $18.96.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of MillerKnoll from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th.

MillerKnoll Price Performance

The stock has a 50 day moving average of $21.35 and a two-hundred day moving average of $23.19. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.99 and a current ratio of 1.60. The stock has a market cap of $1.27 billion, a PE ratio of 20.45, a PEG ratio of 0.89 and a beta of 1.22.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Saturday, March 1st will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, February 28th. MillerKnoll’s dividend payout ratio (DPR) is currently 82.42%.

Institutional Investors Weigh In On MillerKnoll

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in MillerKnoll by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,820,581 shares of the company’s stock valued at $86,306,000 after purchasing an additional 121,478 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in MillerKnoll in the 4th quarter worth about $32,283,000. Charles Schwab Investment Management Inc. lifted its stake in MillerKnoll by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,312,945 shares of the company’s stock worth $29,659,000 after acquiring an additional 42,343 shares in the last quarter. Vulcan Value Partners LLC grew its stake in MillerKnoll by 12.8% during the 4th quarter. Vulcan Value Partners LLC now owns 1,252,093 shares of the company’s stock valued at $28,285,000 after acquiring an additional 141,936 shares in the last quarter. Finally, Forager Capital Management LLC increased its holdings in shares of MillerKnoll by 23.9% in the 4th quarter. Forager Capital Management LLC now owns 1,181,841 shares of the company’s stock valued at $26,698,000 after purchasing an additional 228,000 shares during the period. Hedge funds and other institutional investors 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.