MillerKnoll (NASDAQ:MLKN) Downgraded to “Hold” Rating by StockNews.com

MillerKnoll (NASDAQ:MLKN) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

MillerKnoll Trading Down 1.3 %

MillerKnoll stock traded down $0.30 during mid-day trading on Tuesday, hitting $21.95. 715,300 shares of the company’s stock were exchanged, compared to its average volume of 566,350. The company’s 50 day simple moving average is $23.91 and its 200-day simple moving average is $25.84. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.52 billion, a P/E ratio of 25.23, a PEG ratio of 0.96 and a beta of 1.23. MillerKnoll has a fifty-two week low of $20.89 and a fifty-two week high of $31.73.

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

Institutional Trading of MillerKnoll

A number of institutional investors have recently made changes to their positions in MLKN. Pacer Advisors Inc. boosted its holdings in shares of MillerKnoll by 15.3% in the 2nd quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock valued at $106,370,000 after buying an additional 532,427 shares during the last quarter. Dimensional Fund Advisors LP raised its position in MillerKnoll by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after acquiring an additional 377,121 shares in the last quarter. Forager Capital Management LLC lifted its stake in MillerKnoll by 45.9% in the third quarter. Forager Capital Management LLC now owns 953,841 shares of the company’s stock valued at $23,617,000 after acquiring an additional 300,000 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of MillerKnoll by 157.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 852,584 shares of the company’s stock valued at $21,110,000 after acquiring an additional 521,318 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of MillerKnoll by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 574,822 shares of the company’s stock worth $14,233,000 after purchasing an additional 6,576 shares during the last quarter. Institutional investors own 87.50% of the company’s stock.

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.