Herman Miller, Inc. (NASDAQ:MLHR) has received an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $38.00.

A number of brokerages recently weighed in on MLHR. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, ValuEngine cut Herman Miller from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th.

Herman Miller (MLHR) opened at $34.75 on Thursday. Herman Miller has a fifty-two week low of $28.55 and a fifty-two week high of $37.00. The firm has a market capitalization of $2,101.21, a price-to-earnings ratio of 16.42 and a beta of 1.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.30 and a quick ratio of 0.86.

Herman Miller (NASDAQ:MLHR) last issued its earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.57. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The firm had revenue of $580.30 million for the quarter, compared to analysts’ expectations of $578.27 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. equities analysts forecast that Herman Miller will post 2.32 EPS 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 paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, November 30th. Herman Miller’s dividend payout ratio is presently 36.00%.

In related news, Director David O. Ulrich sold 13,382 shares of the business’s stock in a transaction dated 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 owns 21,949 shares in the company, valued at $710,708.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian C. Walker sold 14,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $34.80, for a total value of $487,200.00. Following the completion of the transaction, the chief executive officer now owns 160,979 shares in the company, valued at approximately $5,602,069.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,789 shares of company stock worth $2,955,741. 1.91% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC lifted its stake 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 worth $112,000 after acquiring an additional 1,494 shares in the last quarter. Sei Investments Co. increased its holdings in Herman Miller by 0.6% in the second 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. Neuberger Berman Group LLC bought a new stake in Herman Miller in the third quarter valued at about $211,000. Trexquant Investment LP bought a new stake in Herman Miller in the second quarter valued at about $229,000. Finally, Great Lakes Advisors LLC bought a new stake in Herman Miller in the second quarter valued at about $240,000. Institutional investors and hedge funds own 82.40% of the company’s stock.

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