Herman Miller (MLHR) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Herman Miller (NASDAQ:MLHR) from a hold rating to a sell rating in a research note released on Thursday morning.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Herman Miller from a sell rating to a hold rating in a research report on Tuesday. ValuEngine cut shares of Herman Miller from a buy rating to a hold rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Herman Miller currently has an average rating of Hold and a consensus price target of $38.00.

Shares of Herman Miller (NASDAQ:MLHR) traded up $0.20 on Thursday, reaching $34.20. 280,012 shares of the company’s stock were exchanged, compared to its average volume of 383,881. The company has a quick ratio of 0.86, a current ratio of 1.30 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2,035.45, a PE ratio of 15.91 and a beta of 1.48. Herman Miller has a twelve month low of $28.55 and a twelve month high of $37.00.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The business had revenue of $580.30 million for 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 business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. research analysts forecast that Herman Miller will post 2.32 EPS 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 given a $0.18 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.72 annualized dividend and a yield of 2.11%. Herman Miller’s payout ratio is 36.00%.

In related news, CEO Brian C. Walker sold 14,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $34.80, for a total value of $487,200.00. Following the transaction, the chief executive officer now owns 160,979 shares of the company’s stock, valued at approximately $5,602,069.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David O. Ulrich sold 13,382 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $32.38, for a total transaction of $433,309.16. Following the completion of the transaction, the director now directly owns 21,949 shares in the company, valued at approximately $710,708.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,789 shares of company stock worth $2,955,741. 1.91% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Riverhead Capital Management LLC increased its stake in Herman Miller by 67.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after buying an additional 1,494 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Herman Miller by 4.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after buying an additional 181 shares during the last quarter. Sei Investments Co. increased its stake in Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after buying an additional 26 shares during the last quarter. LS Investment Advisors LLC increased its stake in Herman Miller by 17.5% in the 2nd quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock valued at $146,000 after buying an additional 714 shares during the last quarter. Finally, Forward Management LLC increased its stake in Herman Miller by 6.8% in the 2nd quarter. Forward Management LLC now owns 4,938 shares of the business services provider’s stock valued at $151,000 after buying an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

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About Herman Miller

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