Herman Miller (MLHR) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Herman Miller (NASDAQ:MLHR) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts also recently weighed in on MLHR. Zacks Investment Research downgraded Herman Miller from a strong-buy rating to a hold rating in a research note on Tuesday, September 12th. ValuEngine upgraded Herman Miller from a hold rating to a buy rating in a research note on Wednesday, September 27th. Finally, Raymond James Financial upgraded Herman Miller from a market perform rating to an outperform rating and set a $43.00 price target on the stock in a research note on Tuesday, December 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $41.67.

Herman Miller (MLHR) opened at $39.95 on Friday. Herman Miller has a 12 month low of $28.55 and a 12 month high of $40.85. The firm has a market capitalization of $2,390.00, a P/E ratio of 19.68 and a beta of 1.48. The company has a quick ratio of 0.89, a current ratio of 1.33 and a debt-to-equity ratio of 0.32.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The company had revenue of $604.60 million for the quarter, compared to the consensus estimate of $603.77 million. During the same period last year, the business posted $0.54 EPS. The company’s revenue was up 4.7% on a year-over-year basis. equities research analysts predict that Herman Miller will post 2.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be paid a $0.18 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.80%. Herman Miller’s dividend payout ratio (DPR) is presently 35.47%.

In related news, VP Kevin J. Veltman sold 1,190 shares of Herman Miller stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total value of $47,933.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian C. Walker sold 14,000 shares of Herman Miller stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $35.38, for a total value of $495,320.00. Following the completion of the sale, the chief executive officer now owns 160,979 shares in the company, valued at $5,695,437.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,014 shares of company stock worth $1,075,219. Company insiders own 1.91% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MLHR. Prudential Financial Inc. boosted its position in 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 worth $55,871,000 after purchasing an additional 375,520 shares in the last quarter. LSV Asset Management boosted its position in 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 worth $57,456,000 after purchasing an additional 247,300 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in Herman Miller during the third quarter worth $7,007,000. Martingale Asset Management L P boosted its position in Herman Miller by 469.6% during the second quarter. Martingale Asset Management L P now owns 156,266 shares of the business services provider’s stock worth $4,751,000 after purchasing an additional 128,834 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. boosted its position in Herman Miller by 22.8% during the third quarter. Speece Thorson Capital Group Inc. now owns 446,816 shares of the business services provider’s stock worth $16,041,000 after purchasing an additional 83,087 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

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