MillerKnoll (NASDAQ:MLKN) Posts Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• MillerKnoll (NASDAQ: MLKN) reported quarterly earnings of $0.45 per share, exceeding estimates by $0.10.
• The company announced a quarterly dividend of $0.1875 per share, yielding 3.9%.
• Hedge funds and institutional investors own 87.50% of MillerKnoll's shares, indicating strong institutional confidence in the stock.

MillerKnoll (NASDAQ:MLKN - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.10, Zacks reports. MillerKnoll had a positive return on equity of 10.44% and a negative net margin of 1.01%.

MillerKnoll Price Performance

NASDAQ:MLKN traded down $0.88 during trading hours on Tuesday, reaching $19.02. 1,413,407 shares of the company's stock were exchanged, compared to its average volume of 522,109. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $1.30 billion, a P/E ratio of -33.96, a price-to-earnings-growth ratio of 0.92 and a beta of 1.25. MillerKnoll has a 12 month low of $15.25 and a 12 month high of $25.96. The business's 50-day simple moving average is $20.43 and its two-hundred day simple moving average is $18.73.

MillerKnoll Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Sunday, August 31st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.75 annualized dividend and a yield of 3.9%. MillerKnoll's dividend payout ratio is currently -133.93%.

Hedge Funds Weigh In On MillerKnoll

A number of institutional investors have recently bought and sold shares of MLKN. Jane Street Group LLC lifted its position in shares of MillerKnoll by 311.8% in the first quarter. Jane Street Group LLC now owns 414,275 shares of the company's stock worth $7,929,000 after purchasing an additional 313,684 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of MillerKnoll by 6.9% in the second quarter. Public Sector Pension Investment Board now owns 230,995 shares of the company's stock worth $4,486,000 after buying an additional 14,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of MillerKnoll by 7.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,932 shares of the company's stock worth $3,788,000 after purchasing an additional 13,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MillerKnoll by 2.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company's stock valued at $775,000 after acquiring an additional 801 shares during the period. Finally, Norges Bank bought a new position in MillerKnoll during the second quarter valued at about $768,000. Hedge funds and other institutional investors own 87.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of MillerKnoll from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Wall Street Zen upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Benchmark raised MillerKnoll to a "hold" rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, MillerKnoll has an average rating of "Hold".

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.

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