Short Interest in MillerKnoll, Inc. (NASDAQ:MLKN) Expands By 18.3%

MillerKnoll, Inc. (NASDAQ:MLKN) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 2,330,000 shares, an increase of 18.3% from the August 15th total of 1,970,000 shares. Based on an average daily trading volume, of 454,800 shares, the short-interest ratio is presently 5.1 days. Approximately 3.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On MillerKnoll

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in shares of MillerKnoll in the second quarter worth $288,000. Creative Planning raised its stake in MillerKnoll by 35.0% in the 2nd quarter. Creative Planning now owns 14,083 shares of the company’s stock valued at $373,000 after purchasing an additional 3,649 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in MillerKnoll by 359.0% in the 2nd quarter. Mackenzie Financial Corp now owns 38,950 shares of the company’s stock valued at $1,032,000 after purchasing an additional 30,464 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in MillerKnoll by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,269 shares of the company’s stock valued at $1,067,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in shares of MillerKnoll by 82.1% during the 2nd quarter. Dark Forest Capital Management LP now owns 17,339 shares of the company’s stock worth $459,000 after purchasing an additional 7,819 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised MillerKnoll from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 3rd.

MillerKnoll Price Performance

Shares of MLKN stock traded up $0.24 during mid-day trading on Tuesday, reaching $27.43. The stock had a trading volume of 425,363 shares, compared to its average volume of 617,664. The company has a market cap of $1.97 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 0.99 and a beta of 1.18. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. MillerKnoll has a 12-month low of $18.00 and a 12-month high of $31.73. The business has a 50-day simple moving average of $28.48 and a 200 day simple moving average of $27.51.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.13. The firm had revenue of $888.90 million for the quarter, compared to analysts’ expectations of $898.65 million. MillerKnoll had a net margin of 2.27% and a return on equity of 10.94%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. On average, sell-side analysts anticipate that MillerKnoll will post 2.21 earnings per share for the current year.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Saturday, August 31st will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, August 30th. This represents a $0.75 annualized dividend and a dividend yield of 2.73%. MillerKnoll’s dividend payout ratio is currently 67.57%.

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.