MillerKnoll, Inc. (MLKN) to Issue Quarterly Dividend of $0.19 on July 15th

MillerKnoll, Inc. (NASDAQ:MLKN) announced a quarterly dividend on Tuesday, April 15th, Wall Street Journal reports. Stockholders of record on Sunday, June 1st will be paid a dividend of 0.1875 per share on Tuesday, July 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, May 30th.

MillerKnoll has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect MillerKnoll to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 27.8%.

MillerKnoll Stock Performance

MLKN opened at $17.00 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.60 and a quick ratio of 0.99. The business has a fifty day simple moving average of $17.09 and a 200 day simple moving average of $20.71. MillerKnoll has a 1 year low of $15.25 and a 1 year high of $31.73. The company has a market capitalization of $1.15 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.17.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $876.20 million during the quarter, compared to the consensus estimate of $918.88 million. MillerKnoll had a net margin of 1.81% and a return on equity of 10.74%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. Research analysts expect that MillerKnoll will post 2.12 EPS for the current year.

Institutional Trading of MillerKnoll

Several large investors have recently bought and sold shares of MLKN. Royal Bank of Canada lifted its holdings in shares of MillerKnoll by 39.4% in the first quarter. Royal Bank of Canada now owns 19,451 shares of the company’s stock worth $373,000 after acquiring an additional 5,495 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in MillerKnoll by 2.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,480 shares of the company’s stock valued at $775,000 after purchasing an additional 801 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 valued at $3,788,000 after buying an additional 13,099 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of MillerKnoll by 311.8% during the first quarter. Jane Street Group LLC now owns 414,275 shares of the company’s stock worth $7,929,000 after buying an additional 313,684 shares during the last quarter. 87.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MLKN shares. Sidoti raised shares of MillerKnoll to a “hold” rating in a report on Tuesday, March 25th. Wall Street Zen upgraded MillerKnoll from a “hold” rating to a “buy” rating in a research note on Monday, May 12th.

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.