ValuEngine upgraded shares of Herman Miller (NASDAQ:MLHR) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Herman Miller from a hold rating to a sell rating in a research report on Thursday, December 7th. Zacks Investment Research upgraded shares of Herman Miller from a sell rating to a hold rating in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $38.00.

Herman Miller (NASDAQ MLHR) traded down $0.55 on Monday, hitting $34.20. 416,500 shares of the company traded hands, compared to its average volume of 383,868. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 1.30. The firm has a market cap of $2,077.30, a PE ratio of 16.24 and a beta of 1.48. Herman Miller has a 1 year low of $28.55 and a 1 year high of $37.00.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The company had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. analysts forecast that Herman Miller will post 2.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Saturday, December 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend payout ratio is presently 36.00%.

In other news, SVP Stephen C. Gane sold 10,686 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $36.01, for a total value of $384,802.86. Following the completion of the sale, the senior vice president now directly owns 21,985 shares in the company, valued at $791,679.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Hezron T. Lopez sold 5,353 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $34.85, for a total transaction of $186,552.05. Following the completion of the sale, the senior vice president now owns 5,353 shares of the company’s stock, valued at $186,552.05. The disclosure for this sale can be found here. Insiders have sold 85,789 shares of company stock valued at $2,955,741 over the last 90 days. 1.91% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MLHR. Royce & Associates LP raised its position in shares of 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 valued at $72,108,000 after buying an additional 793,188 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Herman Miller by 31.8% in the third quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock valued at $55,871,000 after buying an additional 375,520 shares during the last quarter. LSV Asset Management raised its position in shares of 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 valued at $57,456,000 after buying an additional 247,300 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Herman Miller in the third quarter valued at about $7,007,000. Finally, Martingale Asset Management L P raised its position in shares of Herman Miller by 469.6% in the second quarter. Martingale Asset Management L P now owns 156,266 shares of the business services provider’s stock valued at $4,751,000 after buying an additional 128,834 shares during the last quarter. Institutional investors and hedge funds own 82.40% of the company’s stock.

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Herman Miller Company Profile

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