Herman Miller, Inc. (MLHR) Receives $38.00 Consensus PT from Analysts
Herman Miller, Inc. (NASDAQ:MLHR) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.00.
Several equities research analysts recently commented on MLHR shares. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, July 11th. Sidoti started coverage on shares of Herman Miller in a research note on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target on the stock.
In other Herman Miller news, insider Andrew J. Lock sold 19,247 shares of Herman Miller stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $33.47, for a total value of $644,197.09. Following the transaction, the insider now directly owns 24,354 shares in the company, valued at $815,128.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew J. Lock sold 22,491 shares of Herman Miller stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $33.48, for a total transaction of $752,998.68. Following the completion of the transaction, the insider now owns 24,354 shares in the company, valued at $815,371.92. The disclosure for this sale can be found here. Insiders have sold a total of 109,535 shares of company stock worth $3,678,089 over the last quarter. 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. BlackRock Inc. raised its position in Herman Miller by 22,901.9% in the first quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock worth $192,154,000 after buying an additional 6,063,973 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in Herman Miller during the first quarter worth approximately $36,396,000. Royce & Associates LP raised its position in Herman Miller by 50.2% in the second quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock worth $72,108,000 after buying an additional 793,188 shares in the last quarter. Van Berkom & Associates Inc. raised its position in Herman Miller by 23.6% in the second quarter. Van Berkom & Associates Inc. now owns 1,543,957 shares of the business services provider’s stock worth $46,936,000 after buying an additional 294,356 shares in the last quarter. Finally, LSV Asset Management raised its position in Herman Miller by 15.1% in the second quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock worth $57,456,000 after buying an additional 247,300 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.
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Shares of Herman Miller (MLHR) traded up 0.91% during trading on Friday, hitting $33.10. The stock had a trading volume of 339,974 shares. The stock has a market cap of $1.98 billion, a P/E ratio of 16.15 and a beta of 1.45. Herman Miller has a one year low of $26.99 and a one year high of $36.46. The stock’s 50 day moving average price is $32.81 and its 200-day moving average price is $31.79.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Wednesday, July 5th. The business services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.09. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The firm had revenue of $577.20 million for the quarter, compared to analyst estimates of $583.53 million. During the same period last year, the business earned $0.56 EPS. Herman Miller’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts expect that Herman Miller will post $2.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, August 30th. Herman Miller’s dividend payout ratio (DPR) is currently 33.17%.
About Herman Miller
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