Zacks: Herman Miller Inc. (NASDAQ:MLHR) Given Average Rating of “Hold” by Brokerages
Herman Miller Inc. (NASDAQ:MLHR) has been assigned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Zacks has also given Herman Miller an industry rank of 237 out of 265 based on the ratings given to related companies.
MLHR has been the subject of a number of analyst reports. Zacks Investment Research lowered Herman Miller from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. BB&T Corp. lowered Herman Miller from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. They noted that the move was a valuation call.
Herman Miller (NASDAQ:MLHR) opened at 28.25 on Monday. Herman Miller has a 12 month low of $22.60 and a 12 month high of $36.46. The stock’s 50 day moving average price is $32.98 and its 200-day moving average price is $31.68. The stock has a market cap of $1.69 billion, a PE ratio of 12.28 and a beta of 1.45.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, September 21st. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.02. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The company had revenue of $598.60 million for the quarter. During the same period in the previous year, the business posted $0.56 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts anticipate that Herman Miller will post $2.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Saturday, September 3rd will be issued a $0.17 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, August 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.41%. Herman Miller’s dividend payout ratio (DPR) is presently 29.57%.
In other Herman Miller news, CEO Brian C. Walker sold 8,000 shares of Herman Miller stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $33.69, for a total value of $269,520.00. Following the completion of the sale, the chief executive officer now owns 179,299 shares of the company’s stock, valued at approximately $6,040,583.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey L. Kurburski sold 3,055 shares of Herman Miller stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $32.50, for a total value of $99,287.50. Following the completion of the sale, the senior vice president now directly owns 13,471 shares of the company’s stock, valued at approximately $437,807.50. The disclosure for this sale can be found here. 1.91% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of MLHR. Royce & Associates LP raised its stake in Herman Miller by 95.9% in the first quarter. Royce & Associates LP now owns 1,124,590 shares of the company’s stock worth $34,739,000 after buying an additional 550,590 shares during the last quarter. AQR Capital Management LLC raised its stake in Herman Miller by 40.3% in the second quarter. AQR Capital Management LLC now owns 1,261,774 shares of the company’s stock worth $37,714,000 after buying an additional 362,526 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Herman Miller by 111.9% in the first quarter. Goldman Sachs Group Inc. now owns 666,159 shares of the company’s stock worth $20,578,000 after buying an additional 351,818 shares during the last quarter. Vanguard Group Inc. raised its stake in Herman Miller by 5.3% in the second quarter. Vanguard Group Inc. now owns 5,406,011 shares of the company’s stock worth $161,584,000 after buying an additional 270,797 shares during the last quarter. Finally, Front Street Capital Management Inc. acquired a new stake in Herman Miller during the second quarter worth approximately $6,817,000. 81.15% of the stock is owned by institutional investors and hedge funds.
Herman Miller Company Profile
Herman Miller, Inc, researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. It operates in three segments: North American Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products for work-related settings, including office, education, and healthcare environments, throughout the United States and Canada; ELA Furniture Solutions, which includes EMEA, Latin America, and Asia-Pacific.
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