Herman Miller, Inc. (MLHR) Given Consensus Recommendation of “Hold” by Brokerages
Herman Miller, Inc. (NASDAQ:MLHR) has earned an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $38.00.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Tuesday, September 26th. ValuEngine cut Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th.
Herman Miller (MLHR) opened at $34.15 on Friday. The stock has a market capitalization of $2,041.42, a PE ratio of 15.96 and a beta of 1.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 1.30. Herman Miller has a 1-year low of $28.55 and a 1-year high of $37.00.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.57. The firm had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. equities analysts forecast that Herman Miller will post 2.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, November 30th. Herman Miller’s payout ratio is 36.00%.
In other news, CEO Brian C. Walker sold 14,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $34.80, for a total value of $487,200.00. Following the completion of the transaction, the chief executive officer now owns 160,979 shares in the company, valued at approximately $5,602,069.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael F. Ramirez sold 4,091 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $33.98, for a total value of $139,012.18. The disclosure for this sale can be found here. Insiders sold a total of 99,789 shares of company stock valued at $3,413,961 in the last 90 days. 1.91% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. grew its holdings in shares of Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 26 shares in the last quarter. Ronald Blue & Co. LLC grew its holdings in Herman Miller by 1.4% during the second quarter. Ronald Blue & Co. LLC now owns 6,787 shares of the business services provider’s stock worth $206,000 after purchasing an additional 91 shares during the period. First Bank & Trust grew its holdings in Herman Miller by 4.1% during the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock worth $121,000 after purchasing an additional 158 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Herman Miller by 4.9% during the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after purchasing an additional 181 shares during the period. Finally, Alps Advisors Inc. grew its holdings in Herman Miller by 1.5% during the second quarter. Alps Advisors Inc. now owns 17,470 shares of the business services provider’s stock worth $531,000 after purchasing an additional 266 shares during the period. Institutional investors own 82.17% of the company’s stock.
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About Herman Miller
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