MillerKnoll (NASDAQ:MLKN) Stock Price Down 8.7% - Here's What Happened

Key Points

• MillerKnoll's stock price has experienced a significant drop of 8.7%, trading as low as $17.23 during mid-day trading on Wednesday.
• The company's quarterly earnings surpassed expectations, reporting $0.45 earnings per share against an estimate of $0.34, but revenue fell short of analysts' expectations.
• MillerKnoll announced a quarterly dividend of $0.1875, which will be paid on October 15th, reflecting a yield of 4.3% despite a negative payout ratio.

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report)'s stock price was down 8.7% during mid-day trading on Wednesday . The stock traded as low as $17.23 and last traded at $17.37. Approximately 149,092 shares changed hands during trading, a decline of 72% from the average daily volume of 525,131 shares. The stock had previously closed at $19.02.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MLKN shares. Benchmark upgraded MillerKnoll to a "hold" rating in a research report on Friday, June 27th. Zacks Research upgraded MillerKnoll from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Wall Street Zen upgraded MillerKnoll from a "hold" rating to a "buy" rating in a research report on Monday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

MillerKnoll Trading Down 8.1%

The stock has a market cap of $1.20 billion, a P/E ratio of -31.19, a PEG ratio of 0.92 and a beta of 1.25. The firm's fifty day moving average price is $20.42 and its two-hundred day moving average price is $18.73. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 0.94.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last released its quarterly earnings results on Tuesday, September 23rd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.11. The firm had revenue of $906.40 million for the quarter, compared to analysts' expectations of $910.97 million. MillerKnoll had a negative net margin of 1.01% and a positive return on equity of 10.44%. The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. MillerKnoll has set its Q2 2026 guidance at 0.380-0.440 EPS. As a group, equities research analysts forecast that MillerKnoll, Inc. will post 2.12 EPS for the current year.

MillerKnoll Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Sunday, August 31st will be given a $0.1875 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.75 annualized dividend and a yield of 4.3%. MillerKnoll's payout ratio is -133.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position in MillerKnoll by 36.5% in the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company's stock worth $38,000 after acquiring an additional 519 shares in the last quarter. State of Wyoming grew its position in MillerKnoll by 120.2% in the second quarter. State of Wyoming now owns 33,462 shares of the company's stock worth $650,000 after acquiring an additional 18,266 shares in the last quarter. Rexford Capital Inc. purchased a new position in MillerKnoll in the second quarter worth $101,000. Public Sector Pension Investment Board grew its position in 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 acquiring an additional 14,854 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in MillerKnoll by 358.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,988 shares of the company's stock worth $155,000 after acquiring an additional 6,246 shares in the last quarter. 87.50% of the stock is currently owned by hedge funds and other institutional investors.

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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