Herman Miller Inc. (MLHR) Stock Rating Upgraded by Zacks Investment Research
Herman Miller Inc. (NASDAQ:MLHR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Herman Miller & Co. is engaged primarily in the design, manufacture, and sale of furniture systems and furniture, and related products and services, for offices, and, to a lesser extent, for health-care facilities and other uses. Through research, the company seeks to define and clarify customer needs and problems existing in its markets and to design, through innovation where feasible, products and systems as solutions to such problems. “
Separately, Seaport Global Securities began coverage on shares of Herman Miller in a research note on Friday, November 4th. They issued a “neutral” rating for the company.
Shares of Herman Miller (NASDAQ:MLHR) opened at 34.35 on Wednesday. The firm has a 50-day moving average of $29.20 and a 200 day moving average of $31.41. The company has a market capitalization of $2.06 billion, a P/E ratio of 14.93 and a beta of 1.44. Herman Miller has a 1-year low of $22.60 and a 1-year high of $36.46.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.02. The company earned $598.60 million during the quarter. Herman Miller had a return on equity of 26.03% and a net margin of 6.07%. Herman Miller’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities research analysts expect that Herman Miller will post $2.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Saturday, December 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.98%. Herman Miller’s dividend payout ratio (DPR) is 29.57%.
Several large investors have recently made changes to their positions in MLHR. Quantbot Technologies LP boosted its stake in shares of Herman Miller by 640.1% in the second quarter. Quantbot Technologies LP now owns 10,991 shares of the company’s stock worth $328,000 after buying an additional 9,506 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Herman Miller during the second quarter worth about $2,989,000. Chicago Equity Partners LLC boosted its stake in shares of Herman Miller by 2.1% in the second quarter. Chicago Equity Partners LLC now owns 53,490 shares of the company’s stock worth $1,599,000 after buying an additional 1,110 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of Herman Miller during the second quarter worth about $338,000. Finally, Hood River Capital Management LLC boosted its stake in shares of Herman Miller by 47.1% in the second quarter. Hood River Capital Management LLC now owns 328,630 shares of the company’s stock worth $9,823,000 after buying an additional 105,228 shares during the period. 81.34% of the stock is owned by institutional investors.
About Herman Miller
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