Herman Miller, Inc. (NASDAQ:MLHR):
Herman Miller Introduces a New Digital System, Connecting Furniture to Help Organizations Improve Workplace Strategy and Employee Wellbeing.
In the market the company is trading up since yesterday’s close of $32.
Herman Miller, Inc. also recently announced a dividend for shareholders that will be paid on Saturday the 15th of July 2017. The dividend will be $0.170 per share for the quarter or $0.68 annualized. This dividend represents a yeild of $2.13 which is the dividend as a percentage of the current share price. The ex-dividend date is Wednesday the 31st of May 2017.
Herman Miller, Inc., launched on July 21, 1981, is involved in the research, design, manufacture, selling and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings and related services. The Business’s segments include North American Furniture Solutions; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions; Specialty, and Consumer. The North American Furniture Solutions segment includes the operations associated with the design, manufacture, and sale of furniture products for work-related settings, including office, education, and healthcare environments, throughout the United States and Canada. The ELA Furniture Solutions segment includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America, and Asia-Pacific geographic regions. The Specialty segment includes the operations associated with design, manufacture, and sale of furniture products and textiles, including Geiger wood products and Herman Miller Collection products. The Consumer segment includes the operations associated with the sale of modern design furnishings and accessories to third-party retail distributors, as well as direct to consumer sales through e-commerce, direct mailing catalogs and Design Within Reach (DWR) studios..
Shares last traded at $32.53 slightly below the 50 day moving average of $32.49 and marginally over the 200 day moving average of $32.04. The 50 day moving average moved down $-0.19 and the 200 day average moved up $0.26.
The company currently has a P/E ratio of 14.88 and the market value is 1.93B. In the last earnings report the EPS was $2.17 and is projected to be $2.08 for the current year with 59,846,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.57 with next year’s EPS anticipated to be $2.19.
Short traders are feeling a little more bullish on shares of Herman Miller, Inc. of late if you pay attention to the change in short interest. The stock had a fall in short interest of -3.62% between May 15, 2017 and April 28, 2017. Short shares decreased from 1,270,216 to 1,224,195 over that timeframe. Days to cover increased from 3.5 to 4.5 and the percentage of shorted shares was 0.02% on April 28.
A few investment firms have released opinions on Herman Miller, Inc. of late. On November 4 analysts at Seaport Global initiated coverage on MLHR giving it an initial rating of “Neutral”. On June 24 the company was downgraded to “Hold” from “Buy” in a statement from BB&T Capital.
On June 30 the stock rating was downgraded from “Buy” to “Neutral” in a report issued by Longbow Research. On June 6 the stock rating was upgraded to “Buy” from “Neutral” with a current price target of $37.00 in an announcement from Longbow Research.