Herman Miller (MLHR) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Herman Miller (NASDAQ:MLHR) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Herman Miller & Co. is engaged primarily in the design, manufacture, and sale of furniture systems and furniture, and related products and services, for offices, and, to a lesser extent, for health-care facilities and other uses. Through research, the company seeks to define and clarify customer needs and problems existing in its markets and to design, through innovation where feasible, products and systems as solutions to such problems. “
Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Herman Miller from a buy rating to a hold rating in a report on Thursday, November 9th. BidaskClub raised shares of Herman Miller from a sell rating to a hold rating in a report on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $38.00.
Herman Miller (NASDAQ:MLHR) opened at $34.20 on Tuesday. The firm has a market capitalization of $2,032.46, a PE ratio of 15.89 and a beta of 1.48. Herman Miller has a 52-week low of $28.55 and a 52-week high of $37.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.30 and a quick ratio of 0.86.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. Herman Miller’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the business 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 announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s payout ratio is 36.00%.
In related news, insider Andrew J. Lock sold 24,277 shares of Herman Miller stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $34.17, for a total transaction of $829,545.09. Following the completion of the sale, the insider now owns 26,388 shares of the company’s stock, valued at approximately $901,677.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian C. Walker sold 14,000 shares of Herman Miller stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $34.80, for a total transaction of $487,200.00. Following the sale, the chief executive officer now directly owns 160,979 shares of the company’s stock, valued at approximately $5,602,069.20. The disclosure for this sale can be found here. Insiders have sold a total of 85,789 shares of company stock valued at $2,955,741 in the last ninety days. 1.91% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in MLHR. Riverhead Capital Management LLC boosted its holdings in Herman Miller by 67.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 1,494 shares during the period. First Bank & Trust boosted its holdings in Herman Miller by 4.1% in the 2nd quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 158 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Herman Miller by 4.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 181 shares during the period. Sei Investments Co. boosted its holdings in 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 purchasing an additional 26 shares during the period. Finally, LS Investment Advisors LLC boosted its holdings in Herman Miller by 17.5% in the 2nd quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 714 shares during the period. 82.40% of the stock is owned by institutional investors and hedge funds.
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Herman Miller Company Profile
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