Herman Miller (MLHR) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of Herman Miller (NASDAQ:MLHR) from a hold rating to a buy rating in a research report report published on Monday morning.
A number of other brokerages have also commented on MLHR. Zacks Investment Research lowered Herman Miller from a buy rating to a hold rating in a report on Wednesday, October 4th. BidaskClub lowered Herman Miller from a hold rating to a sell rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $38.00.
Shares of Herman Miller (NASDAQ MLHR) traded down $0.40 during mid-day trading on Monday, hitting $34.75. The stock had a trading volume of 394,400 shares, compared to its average volume of 383,732. Herman Miller has a one year low of $28.55 and a one year high of $37.00. The firm has a market capitalization of $2,101.21, a price-to-earnings ratio of 16.42 and a beta of 1.48. 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 (NASDAQ:MLHR) last issued its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The company had revenue of $580.30 million during the quarter, compared to analyst estimates of $578.27 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. equities analysts expect that Herman Miller will post 2.32 EPS for the current fiscal year.
The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.07%. Herman Miller’s dividend payout ratio (DPR) is presently 36.00%.
In other news, Director David O. Ulrich sold 13,382 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $32.38, for a total transaction of $433,309.16. Following the sale, the director now directly owns 21,949 shares in the company, valued at $710,708.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian C. Walker sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $34.80, for a total value of $487,200.00. Following the sale, the chief executive officer now owns 160,979 shares in the company, valued at $5,602,069.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,789 shares of company stock valued at $2,955,741. Corporate insiders own 1.91% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP increased its position in shares of Herman Miller by 50.2% during the second quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock valued at $72,108,000 after purchasing an additional 793,188 shares during the period. State Street Corp increased its position in shares of Herman Miller by 3.5% during the second quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock valued at $61,971,000 after purchasing an additional 68,974 shares during the period. LSV Asset Management increased its position in shares of Herman Miller by 15.1% during the second quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock valued at $57,456,000 after purchasing an additional 247,300 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Herman Miller by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,603,814 shares of the business services provider’s stock valued at $57,576,000 after purchasing an additional 40,467 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Herman Miller by 31.8% during the third quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock valued at $55,871,000 after purchasing an additional 375,520 shares during the period. Institutional investors and hedge funds own 82.40% of the company’s stock.
Herman Miller Company Profile
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