Herman Miller, Inc. (MLHR) Receives Consensus Rating of “Hold” from Analysts

Shares of Herman Miller, Inc. (NASDAQ:MLHR) have been given an average rating of “Hold” by the eight analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.00.

A number of research firms have recently issued reports on MLHR. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 26th. BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th.

TRADEMARK VIOLATION WARNING: This article was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.com-unik.info/2017/10/30/herman-miller-inc-mlhr-receives-consensus-rating-of-hold-from-analysts.html.

Shares of Herman Miller (NASDAQ MLHR) traded down 4.14% during mid-day trading on Wednesday, hitting $33.55. The stock had a trading volume of 287,925 shares. The stock has a market cap of $2.01 billion, a P/E ratio of 16.77 and a beta of 1.46. The company’s 50 day moving average is $35.13 and its 200-day moving average is $33.25. Herman Miller has a 52-week low of $27.02 and a 52-week high of $37.00.

Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.57. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The firm had revenue of $580.30 million for the quarter, compared to the consensus estimate of $578.27 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Herman Miller will post $2.27 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be paid 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 2.15%. Herman Miller’s dividend payout ratio is presently 36.00%.

In other Herman Miller news, EVP Michael F. Ramirez sold 4,091 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $33.98, for a total value of $139,012.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian C. Walker sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $32.73, for a total transaction of $458,220.00. Following the completion of the sale, the chief executive officer now owns 160,979 shares of the company’s stock, valued at $5,268,842.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,407 shares of company stock valued at $2,980,652. 1.91% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bridge City Capital LLC boosted its stake in Herman Miller by 8.7% in the third quarter. Bridge City Capital LLC now owns 70,925 shares of the business services provider’s stock valued at $2,546,000 after acquiring an additional 5,686 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Herman Miller by 4.9% in the third quarter. New York State Teachers Retirement System now owns 122,691 shares of the business services provider’s stock valued at $4,405,000 after acquiring an additional 5,700 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Herman Miller by 27.2% in the third quarter. Victory Capital Management Inc. now owns 22,530 shares of the business services provider’s stock valued at $809,000 after acquiring an additional 4,817 shares in the last quarter. Speece Thorson Capital Group Inc. boosted its stake in Herman Miller by 22.8% in the third quarter. Speece Thorson Capital Group Inc. now owns 446,816 shares of the business services provider’s stock valued at $16,041,000 after acquiring an additional 83,087 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Herman Miller by 8.8% in the third quarter. First Trust Advisors LP now owns 56,032 shares of the business services provider’s stock valued at $2,012,000 after acquiring an additional 4,528 shares in the last quarter. Institutional investors own 84.28% of the company’s stock.

Herman Miller Company Profile

What are top analysts saying about Herman Miller Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Herman Miller Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit