ValuEngine lowered shares of Herman Miller, Inc. (NASDAQ:MLHR) from a buy rating to a hold rating in a research report released on Thursday morning.
Several other analysts have also issued reports on MLHR. Zacks Investment Research raised Herman Miller from a hold rating to a buy rating and set a $38.00 target price on the stock in a report on Tuesday, September 26th. BidaskClub raised Herman Miller from a sell rating to a hold rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $38.00.
Shares of Herman Miller (NASDAQ MLHR) traded up $0.35 during midday trading on Thursday, reaching $32.90. The company’s stock had a trading volume of 251,500 shares, compared to its average volume of 393,636. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33. Herman Miller has a 52-week low of $28.55 and a 52-week high of $37.00. The firm has a market cap of $1,966.71, a price-to-earnings ratio of 15.37 and a beta of 1.46.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $580.30 million for the quarter, compared to analyst estimates 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 for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. research analysts expect that Herman Miller will post 2.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders 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 2.19%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend payout ratio (DPR) is currently 36.00%.
In related news, insider Andrew J. Lock sold 24,277 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was 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 directly owns 26,388 shares in the company, valued at approximately $901,677.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David O. Ulrich sold 13,382 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $32.38, for a total value of $433,309.16. Following the sale, the director now owns 21,949 shares of the company’s stock, valued at $710,708.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,789 shares of company stock worth $3,413,961. 1.91% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. lifted its position in shares of Herman Miller by 0.6% during the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after buying an additional 26 shares during the last quarter. Ronald Blue & Co. LLC lifted its position in shares of Herman Miller by 1.4% during the 2nd quarter. Ronald Blue & Co. LLC now owns 6,787 shares of the business services provider’s stock worth $206,000 after buying an additional 91 shares during the last quarter. First Bank & Trust lifted its position in shares of Herman Miller by 4.1% during the 2nd quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock worth $121,000 after buying an additional 158 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Herman Miller by 4.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after buying an additional 181 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Herman Miller by 1.5% during the 2nd quarter. Alps Advisors Inc. now owns 17,470 shares of the business services provider’s stock worth $531,000 after buying an additional 266 shares during the last quarter. Institutional investors and hedge funds own 82.17% of the company’s stock.
Herman Miller Company Profile
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