MillerKnoll, Inc. (NASDAQ:MLKN) Sees Significant Drop in Short Interest

MillerKnoll, Inc. (NASDAQ:MLKN - Get Free Report) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 2,040,000 shares, a drop of 31.5% from the April 15th total of 2,980,000 shares. Based on an average daily volume of 848,400 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.9% of the company's stock are short sold.

Institutional Trading of MillerKnoll

Several institutional investors and hedge funds have recently bought and sold shares of MLKN. Nomura Asset Management Co. Ltd. boosted its position in MillerKnoll by 100.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,140 shares of the company's stock worth $30,000 after purchasing an additional 570 shares during the period. International Assets Investment Management LLC raised its holdings in MillerKnoll by 1,117.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,449 shares of the company's stock valued at $39,000 after acquiring an additional 1,330 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in MillerKnoll during the third quarter worth approximately $36,000. Daiwa Securities Group Inc. bought a new stake in shares of MillerKnoll during the fourth quarter worth approximately $40,000. Finally, Quadrant Capital Group LLC grew its position in shares of MillerKnoll by 46.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,537 shares of the company's stock valued at $41,000 after purchasing an additional 488 shares during the last quarter. Institutional investors own 87.50% of the company's stock.

MillerKnoll Stock Down 0.3 %

Shares of MLKN stock traded down $0.08 on Friday, hitting $27.33. 344,569 shares of the stock were exchanged, compared to its average volume of 530,834. The business has a 50-day moving average of $27.42 and a 200 day moving average of $26.99. MillerKnoll has a fifty-two week low of $13.20 and a fifty-two week high of $31.33. The firm has a market capitalization of $1.96 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. The company has a current ratio of 1.59, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93.

MillerKnoll (NASDAQ:MLKN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 27th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $872.30 million during the quarter, compared to analysts' expectations of $909.55 million. MillerKnoll had a net margin of 1.96% and a return on equity of 9.61%. The business's quarterly revenue was down 11.4% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. Equities analysts anticipate that MillerKnoll will post 1.94 EPS for the current year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Saturday, June 1st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, May 31st. MillerKnoll's payout ratio is 77.32%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of MillerKnoll from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 28th.

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.