MLHR has been the topic of several other reports. Zacks Investment Research downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Raymond James lifted their price objective on shares of Herman Miller from $41.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. Finally, ValuEngine downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Herman Miller has a consensus rating of “Hold” and an average price target of $49.00.
Shares of Herman Miller stock traded up $0.14 during trading hours on Tuesday, reaching $44.24. The company’s stock had a trading volume of 504,669 shares, compared to its average volume of 359,652. The company’s 50 day simple moving average is $43.19 and its 200 day simple moving average is $39.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.07 and a current ratio of 1.48. Herman Miller has a one year low of $28.66 and a one year high of $46.29. The stock has a market cap of $2.60 billion, a P/E ratio of 14.93 and a beta of 1.66.
In related news, SVP Jeffrey L. Kurburski sold 3,442 shares of Herman Miller stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $45.52, for a total value of $156,679.84. Following the sale, the senior vice president now directly owns 4,109 shares in the company, valued at approximately $187,041.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gregory J. Bylsma sold 10,717 shares of Herman Miller stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $44.19, for a total transaction of $473,584.23. Following the completion of the sale, the insider now owns 21,181 shares in the company, valued at $935,988.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,601 shares of company stock worth $4,329,094. 1.05% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of MLHR. Penserra Capital Management LLC acquired a new position in Herman Miller during the 1st quarter valued at about $27,000. Bremer Bank National Association acquired a new position in Herman Miller during the 1st quarter valued at about $44,000. Advisor Group Inc. increased its stake in Herman Miller by 32.4% during the 2nd quarter. Advisor Group Inc. now owns 1,596 shares of the business services provider’s stock valued at $71,000 after buying an additional 391 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Herman Miller during the 2nd quarter valued at about $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Herman Miller during the 2nd quarter valued at about $95,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.
About Herman Miller
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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