Herman Miller (MLHR) Rating Increased to Hold at BidaskClub

Herman Miller (NASDAQ:MLHR) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th. ValuEngine downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.67.

Shares of Herman Miller stock opened at $33.25 on Friday. The company has a market cap of $1.97 billion, a P/E ratio of 14.50 and a beta of 1.42. Herman Miller has a twelve month low of $29.25 and a twelve month high of $41.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.15 and a current ratio of 1.59.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, March 21st. The business services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $578.40 million for the quarter, compared to the consensus estimate of $573.30 million. Herman Miller had a net margin of 5.55% and a return on equity of 22.26%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. research analysts anticipate that Herman Miller will post 2.24 earnings per share for the current fiscal year.

In other Herman Miller news, insider Gregory J. Bylsma sold 17,907 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $32.23, for a total transaction of $577,142.61. Following the completion of the sale, the insider now directly owns 60,441 shares of the company’s stock, valued at $1,948,013.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian C. Walker sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $37.98, for a total transaction of $4,747,500.00. Following the sale, the chief executive officer now directly owns 20,701 shares of the company’s stock, valued at $786,223.98. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Herman Miller by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,323,198 shares of the business services provider’s stock valued at $253,243,000 after buying an additional 195,666 shares during the last quarter. LSV Asset Management increased its holdings in Herman Miller by 7.7% during the first quarter. LSV Asset Management now owns 2,521,607 shares of the business services provider’s stock valued at $80,565,000 after buying an additional 180,450 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Herman Miller by 0.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,430,707 shares of the business services provider’s stock valued at $57,300,000 after buying an additional 6,177 shares during the last quarter. Millennium Management LLC increased its holdings in Herman Miller by 96.5% during the fourth quarter. Millennium Management LLC now owns 506,581 shares of the business services provider’s stock valued at $20,289,000 after buying an additional 248,806 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. increased its holdings in Herman Miller by 4.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 466,034 shares of the business services provider’s stock valued at $18,665,000 after buying an additional 19,218 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.

Herman Miller Company Profile

Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.

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