Short Interest in MillerKnoll, Inc. (NASDAQ:MLKN) Declines By 21.5%

MillerKnoll, Inc. (NASDAQ:MLKN) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 1,830,000 shares, a decrease of 21.5% from the August 31st total of 2,330,000 shares. Based on an average daily trading volume, of 547,600 shares, the days-to-cover ratio is presently 3.3 days. Currently, 2.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB bought a new position in MillerKnoll during the 1st quarter valued at approximately $2,933,000. Kingsview Wealth Management LLC raised its position in MillerKnoll by 173.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 163,572 shares of the company’s stock valued at $4,050,000 after purchasing an additional 103,826 shares during the last quarter. Hennessy Advisors Inc. raised its position in MillerKnoll by 14.1% during the 1st 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 last quarter. William Blair Investment Management LLC raised its position in MillerKnoll by 8.8% during the 1st quarter. William Blair Investment Management LLC now owns 954,391 shares of the company’s stock valued at $23,631,000 after purchasing an additional 76,994 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in MillerKnoll during the 1st quarter valued at approximately $7,311,000. Institutional investors own 87.50% of the company’s stock.

MillerKnoll Trading Down 1.8 %

MLKN traded down $0.44 during trading on Friday, hitting $24.39. 1,165,507 shares of the stock traded hands, compared to its average volume of 654,547. The firm has a 50-day moving average of $28.11 and a 200 day moving average of $27.32. MillerKnoll has a 12-month low of $22.43 and a 12-month high of $31.73. The firm has a market capitalization of $1.75 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Thursday, September 19th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). MillerKnoll had a return on equity of 10.93% and a net margin of 1.80%. The business had revenue of $861.50 million during the quarter, compared to the consensus estimate of $889.38 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that MillerKnoll will post 2.17 EPS for the current year.

MillerKnoll Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Saturday, August 31st will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Friday, August 30th. MillerKnoll’s payout ratio is 67.57%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of MillerKnoll from a “strong-buy” rating to a “buy” rating in a report on Monday.

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.