Herman Miller (NASDAQ:MLHR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts have also recently issued reports on MLHR. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research cut Herman Miller from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Herman Miller has a consensus rating of “Hold” and an average price target of $38.00.

Shares of Herman Miller (MLHR) traded up $0.60 during trading on Monday, hitting $34.80. The stock had a trading volume of 377,030 shares, compared to its average volume of 383,852. Herman Miller has a one year low of $28.55 and a one year high of $37.00. The company has a market cap of $2,044.42, a PE ratio of 15.98 and a beta of 1.48. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33.

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

In related news, SVP Hezron T. Lopez sold 5,353 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $34.85, for a total value of $186,552.05. Following the sale, the senior vice president now owns 5,353 shares in the company, valued at approximately $186,552.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Stephen C. Gane sold 10,686 shares of the stock in a transaction 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 sale, the senior vice president now owns 21,985 shares in the company, valued at approximately $791,679.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,789 shares of company stock worth $2,955,741. 1.91% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP grew its holdings in Herman Miller by 50.2% in the 2nd 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 in the last quarter. State Street Corp grew its holdings in Herman Miller by 3.5% in the 2nd quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock valued at $61,971,000 after buying an additional 68,974 shares in the last quarter. LSV Asset Management grew its holdings in Herman Miller by 15.1% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Herman Miller by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,603,814 shares of the business services provider’s stock valued at $57,576,000 after buying an additional 40,467 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in Herman Miller by 31.8% in the 3rd 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 in 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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