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.
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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
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