Herman Miller (NASDAQ:MLHR) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

MLHR has been the subject of a number of other reports. Zacks Investment Research upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $38.00.

Shares of Herman Miller (MLHR) traded down $0.05 during trading hours on Thursday, reaching $34.00. The company’s stock had a trading volume of 160,479 shares, compared to its average volume of 384,272. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2,050.00, a PE ratio of 15.82 and a beta of 1.48. Herman Miller has a 12 month low of $28.55 and a 12 month high of $37.00.

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

In other Herman Miller news, Director David O. Ulrich sold 13,382 shares of Herman Miller stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $32.38, for a total value of $433,309.16. Following the transaction, the director now directly owns 21,949 shares in the company, valued at approximately $710,708.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen C. Gane sold 10,686 shares of Herman Miller stock in a transaction that occurred on 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 transaction, the senior vice president now owns 21,985 shares in the company, valued at $791,679.85. The disclosure for this sale can be found here. Insiders sold a total of 85,789 shares of company stock worth $2,955,741 in the last ninety days. 1.91% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Riverhead Capital Management LLC grew its position in shares of Herman Miller by 67.9% in the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 1,494 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after buying an additional 181 shares during the period. Sei Investments Co. lifted its stake in shares of Herman Miller by 0.6% in the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after acquiring an additional 26 shares in the last quarter. LS Investment Advisors LLC lifted its stake in shares of Herman Miller by 17.5% in the second quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock worth $146,000 after acquiring an additional 714 shares in the last quarter. Finally, Forward Management LLC lifted its stake in shares of Herman Miller by 6.8% in the second quarter. Forward Management LLC now owns 4,938 shares of the business services provider’s stock worth $151,000 after acquiring an additional 315 shares in the last quarter. 82.40% of the stock is owned by hedge funds and other institutional investors.

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About Herman Miller

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