MillerKnoll (NASDAQ:MLKN) Hits New 12-Month High at $31.71

MillerKnoll, Inc. (NASDAQ:MLKN)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $31.71 and last traded at $31.68, with a volume of 390237 shares trading hands. The stock had previously closed at $30.12.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of MillerKnoll from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th.

MillerKnoll Stock Performance

The company’s 50-day simple moving average is $26.91 and its 200 day simple moving average is $27.37. The stock has a market cap of $2.22 billion, a P/E ratio of 27.95, a PEG ratio of 1.13 and a beta of 1.19. The company has a current ratio of 1.54, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.13. MillerKnoll had a return on equity of 10.94% and a net margin of 2.27%. The company had revenue of $888.90 million during the quarter, compared to the consensus estimate of $898.65 million. During the same period last year, the business posted $0.41 earnings per share. MillerKnoll’s revenue was down 7.1% on a year-over-year basis. As a group, sell-side analysts expect that MillerKnoll, Inc. will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On MillerKnoll

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB bought a new stake in MillerKnoll in the first quarter worth about $2,933,000. Panagora Asset Management Inc. bought a new stake in shares of MillerKnoll in the 4th quarter worth approximately $4,867,000. Kingsview Wealth Management LLC raised its holdings in shares of MillerKnoll by 173.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 163,572 shares of the company’s stock worth $4,050,000 after purchasing an additional 103,826 shares during the period. BNP Paribas Financial Markets lifted its stake in MillerKnoll by 163.2% in the fourth quarter. BNP Paribas Financial Markets now owns 131,233 shares of the company’s stock valued at $3,501,000 after purchasing an additional 81,381 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in MillerKnoll by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 998,300 shares of the company’s stock valued at $24,718,000 after purchasing an additional 123,400 shares during the period. 87.50% of the stock is owned by hedge funds and other institutional investors.

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.