BidaskClub upgraded shares of Herman Miller (NASDAQ:MLHR) from a sell rating to a hold rating in a report issued on Friday morning.
A number of other equities research analysts have also recently commented on MLHR. ValuEngine raised shares of Herman Miller from a hold rating to a buy rating in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Herman Miller from a buy rating to a hold rating in a research report on Saturday, February 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $41.67.
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Shares of MLHR traded up $0.25 during mid-day trading on Friday, hitting $32.20. The company’s stock had a trading volume of 286,727 shares, compared to its average volume of 445,533. Herman Miller has a 52-week low of $29.25 and a 52-week high of $41.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.15 and a current ratio of 1.59. The stock has a market capitalization of $1,904.99, a PE ratio of 14.91 and a beta of 1.42.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, March 21st. The business services provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Herman Miller had a net margin of 5.55% and a return on equity of 22.26%. The company had revenue of $578.40 million during the quarter, compared to analysts’ expectations of $573.30 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. Herman Miller’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities research analysts forecast that Herman Miller will post 2.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, July 15th. Shareholders of record on Saturday, June 2nd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.72 dividend on an annualized basis and a yield of 2.24%. Herman Miller’s payout ratio is 33.33%.
In other Herman Miller news, CEO Brian C. Walker sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $37.98, for a total transaction of $4,747,500.00. Following the transaction, the chief executive officer now owns 20,701 shares in the company, valued at approximately $786,223.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian C. Walker sold 90,003 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $36.27, for a total transaction of $3,264,408.81. Following the transaction, the chief executive officer now owns 226,389 shares in the company, valued at approximately $8,211,129.03. The disclosure for this sale can be found here. Insiders have sold a total of 215,004 shares of company stock worth $8,011,945 in the last 90 days. 1.91% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of MLHR. Delpha Capital Management LLC acquired a new position in Herman Miller during the 4th quarter valued at approximately $160,000. Neuberger Berman Group LLC acquired a new position in Herman Miller during the 3rd quarter valued at approximately $211,000. BerganKDV Wealth Management LLC acquired a new position in Herman Miller during the 4th quarter valued at approximately $213,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Herman Miller in the fourth quarter worth $222,000. Finally, Ifrah Financial Services Inc. acquired a new stake in shares of Herman Miller in the fourth quarter worth $224,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
Herman Miller Company Profile
Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.