Herman Miller (MLHR) Stock Rating Lowered by BidaskClub
Herman Miller (NASDAQ:MLHR) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.
Separately, ValuEngine lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd.
Shares of NASDAQ:MLHR opened at $37.30 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.56 and a quick ratio of 1.17. The company has a market capitalization of $2.27 billion, a P/E ratio of 16.22 and a beta of 1.46. Herman Miller has a 52 week low of $29.95 and a 52 week high of $41.85.
In other Herman Miller news, CEO Brian C. Walker sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $38.49, for a total value of $692,820.00. Following the transaction, the chief executive officer now owns 2,701 shares in the company, valued at approximately $103,961.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kevin J. Veltman sold 2,211 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $37.67, for a total transaction of $83,288.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,807 shares of company stock worth $10,258,904. Company insiders own 1.91% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in Herman Miller in the 1st quarter valued at approximately $121,000. First Quadrant L P CA increased its stake in Herman Miller by 1,965.7% in the 2nd quarter. First Quadrant L P CA now owns 3,677 shares of the business services provider’s stock valued at $125,000 after buying an additional 3,499 shares during the period. BerganKDV Wealth Management LLC acquired a new position in Herman Miller in the 2nd quarter valued at approximately $181,000. Tower Research Capital LLC TRC increased its stake in Herman Miller by 183.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,435 shares of the business services provider’s stock valued at $184,000 after buying an additional 3,519 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in Herman Miller in the 2nd quarter valued at approximately $215,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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