Herman Miller (MLHR) Rating Lowered to Hold at ValuEngine

Herman Miller (NASDAQ:MLHR) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, November 9th.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Herman Miller from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub raised Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.00.

Herman Miller (NASDAQ:MLHR) opened at $35.20 on Thursday. 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 has a 1 year low of $28.55 and a 1 year high of $37.00. The firm has a market capitalization of $2,056.38, a price-to-earnings ratio of 16.08 and a beta of 1.46.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $580.30 million during the quarter, compared to the consensus estimate of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. research analysts expect that Herman Miller will post 2.32 earnings per share for the current fiscal year.

In other news, CEO Brian C. Walker sold 14,000 shares of the business’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $35.38, for a total transaction of $495,320.00. Following the completion of the sale, the chief executive officer now owns 160,979 shares in the company, valued at $5,695,437.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David O. Ulrich sold 13,382 shares of Herman Miller 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 directly owns 21,949 shares of the company’s stock, valued at $710,708.62. The disclosure for this sale can be found here. Insiders sold a total of 85,789 shares of company stock worth $2,955,741 in the last ninety days. Insiders own 1.91% of the company’s stock.

Several hedge funds have recently bought and sold shares of MLHR. Riverhead Capital Management LLC raised its stake in Herman Miller by 67.9% in the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,494 shares during the period. First Bank & Trust grew its position 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 buying an additional 158 shares in the last quarter. Public Employees Retirement System of Ohio grew its position 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 buying an additional 181 shares in the last quarter. Sei Investments Co. grew its position in Herman Miller by 0.6% during the second 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 in the last quarter. Finally, LS Investment Advisors LLC grew its position in Herman Miller by 17.5% during the second quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock worth $146,000 after buying an additional 714 shares in the last quarter. 82.32% of the stock is owned by institutional investors.

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Herman Miller Company Profile

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