MillerKnoll, Inc. Declares Quarterly Dividend of $0.19 (NASDAQ:MLKN)

MillerKnoll, Inc. (NASDAQ:MLKN) announced a quarterly dividend on Tuesday, April 14th. Stockholders of record on Saturday, May 30th will be given a dividend of 0.1875 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, May 29th.

MillerKnoll has raised its dividend payment by an average of 0.0%annually over the last three years. MillerKnoll has a payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MillerKnoll to earn $2.00 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 37.5%.

MillerKnoll Trading Up 2.4%

MLKN stock opened at $15.82 on Wednesday. The company’s 50-day simple moving average is $16.10 and its 200-day simple moving average is $17.62. The company has a quick ratio of 0.92, a current ratio of 1.64 and a debt-to-equity ratio of 0.96. MillerKnoll has a 52-week low of $13.77 and a 52-week high of $23.18. The firm has a market cap of $1.08 billion, a P/E ratio of 113.00, a PEG ratio of 0.70 and a beta of 1.41.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, March 25th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). MillerKnoll had a return on equity of 10.11% and a net margin of 0.28%.The firm had revenue of $926.60 million for the quarter, compared to analysts’ expectations of $941.95 million. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts forecast that MillerKnoll will post 1.83 EPS for the current fiscal year.

Institutional Trading of MillerKnoll

A number of hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. raised its holdings in MillerKnoll by 36.5% in the 2nd quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock valued at $38,000 after acquiring an additional 519 shares during the last quarter. ProShare Advisors LLC raised its holdings in MillerKnoll by 4.4% in the 4th quarter. ProShare Advisors LLC now owns 13,308 shares of the company’s stock valued at $243,000 after acquiring an additional 558 shares during the last quarter. Amalgamated Bank raised its holdings in MillerKnoll by 3.4% in the 3rd quarter. Amalgamated Bank now owns 20,072 shares of the company’s stock valued at $356,000 after acquiring an additional 668 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in MillerKnoll by 9.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 7,676 shares of the company’s stock valued at $140,000 after acquiring an additional 690 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in MillerKnoll by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 38,972 shares of the company’s stock valued at $711,000 after acquiring an additional 767 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.

About MillerKnoll

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.