Herman Miller Inc. (NASDAQ:MLHR) has received an average broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Zacks has also given Herman Miller an industry rank of 245 out of 265 based on the ratings given to related companies.
Several research firms have weighed in on MLHR. Zacks Investment Research downgraded Herman Miller from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. BB&T Corp. downgraded Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. They noted that the move was a valuation call.
In other news, CEO Brian C. Walker sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $33.69, for a total transaction of $269,520.00. Following the completion of the transaction, the chief executive officer now directly owns 179,299 shares in the company, valued at approximately $6,040,583.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian C. Walker sold 25,951 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $32.85, for a total value of $852,490.35. Following the transaction, the chief executive officer now owns 200,434 shares of the company’s stock, valued at $6,584,256.90. The disclosure for this sale can be found here. 1.91% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC increased its position in Herman Miller by 77.0% in the second quarter. LS Investment Advisors LLC now owns 3,663 shares of the company’s stock worth $109,000 after buying an additional 1,594 shares in the last quarter. Advance Capital I Inc. bought a new stake in Herman Miller during the second quarter valued at $209,000. Amalgamated Bank raised its stake in Herman Miller by 10.1% in the second quarter. Amalgamated Bank now owns 7,223 shares of the company’s stock valued at $240,000 after buying an additional 661 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Herman Miller by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 8,386 shares of the company’s stock valued at $251,000 after buying an additional 1,023 shares during the last quarter. Finally, National Investment Services Inc. WI bought a new stake in Herman Miller during the second quarter valued at $272,000. Hedge funds and other institutional investors own 81.15% of the company’s stock.
Herman Miller (NASDAQ:MLHR) opened at 28.32 on Monday. Herman Miller has a one year low of $22.60 and a one year high of $36.46. The company has a market cap of $1.70 billion, a PE ratio of 12.31 and a beta of 1.45. The stock has a 50 day moving average of $33.30 and a 200 day moving average of $31.72.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.02. The company had revenue of $598.60 million for the quarter. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. On average, analysts anticipate that Herman Miller will post $2.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Saturday, September 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.40%. This is an increase from Herman Miller’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, August 31st. Herman Miller’s dividend payout ratio is presently 29.57%.
About Herman Miller
Herman Miller, Inc, researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. It operates in three segments: North American Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products for work-related settings, including office, education, and healthcare environments, throughout the United States and Canada; ELA Furniture Solutions, which includes EMEA, Latin America, and Asia-Pacific.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Herman Miller Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller Inc. and related companies with MarketBeat.com's FREE daily email newsletter.