Herman Miller, Inc. (MLHR) Receives Average Rating of “Hold” from Brokerages
Herman Miller, Inc. (NASDAQ:MLHR) has received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $38.00.
Several research firms have weighed in on MLHR. Zacks Investment Research upgraded shares of 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, July 11th. Sidoti began coverage on shares of Herman Miller in a report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 target price on the stock.
In other news, CEO Brian C. Walker sold 56,050 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $33.59, for a total value of $1,882,719.50. Following the transaction, the chief executive officer now directly owns 164,929 shares in the company, valued at approximately $5,539,965.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Hezron T. Lopez sold 2,312 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $33.96, for a total transaction of $78,515.52. The disclosure for this sale can be found here. Insiders sold a total of 109,535 shares of company stock worth $3,678,089 over the last quarter. 1.91% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Thrivent Financial For Lutherans raised its position in shares of Herman Miller by 1.7% in the second quarter. Thrivent Financial For Lutherans now owns 42,260 shares of the business services provider’s stock valued at $1,284,000 after buying an additional 720 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Herman Miller by 9.1% in the second quarter. Stevens Capital Management LP now owns 41,705 shares of the business services provider’s stock valued at $1,268,000 after buying an additional 3,492 shares in the last quarter. Amalgamated Bank raised its position in shares of Herman Miller by 4.1% in the second quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock valued at $260,000 after buying an additional 336 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Herman Miller by 0.3% in the second quarter. Nationwide Fund Advisors now owns 457,929 shares of the business services provider’s stock valued at $13,921,000 after buying an additional 1,219 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Herman Miller by 32.8% in the second quarter. Ameriprise Financial Inc. now owns 253,590 shares of the business services provider’s stock valued at $7,710,000 after buying an additional 62,673 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.
Herman Miller (NASDAQ:MLHR) traded up 0.31% during mid-day trading on Friday, reaching $32.70. 98,795 shares of the company were exchanged. The company has a 50 day moving average of $32.72 and a 200-day moving average of $31.78. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 15.95 and a beta of 1.45. Herman Miller has a 1-year low of $26.99 and a 1-year high of $36.46.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. The company had revenue of $577.20 million for the quarter, compared to analyst estimates of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. Herman Miller’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. On average, equities research analysts forecast that Herman Miller will post $2.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.21%. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s payout ratio is presently 33.17%.
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Herman Miller Company Profile
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