Worth Watching: Is Herman Miller, Inc. a Buy? The Stock Rises Again

Worth Watching: Is Herman Miller, Inc. a Buy? The Stock Rises Again

The stock of Herman Miller, Inc. (NASDAQ:MLHR) is a huge mover today! About 372,547 shares traded hands. Herman Miller, Inc. (NASDAQ:MLHR) has risen 3.94% since March 1, 2016 and is uptrending. It has underperformed by 5.30% the S&P500.
The move comes after 8 months positive chart setup for the $1.66 billion company. It was reported on Oct, 4 by Barchart.com. We have $40.72 PT which if reached, will make NASDAQ:MLHR worth $730.40 million more.

Herman Miller, Inc. (NASDAQ:MLHR) Ratings Coverage

Out of 2 analysts covering Herman Miller (NASDAQ:MLHR), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Herman Miller has been the topic of 2 analyst reports since December 18, 2015 according to StockzIntelligence Inc. The company was downgraded on Friday, December 18 by Raymond James. The stock has “Hold” rating given by BB&T Capital on Friday, June 24.

According to Zacks Investment Research, “Herman Miller & Co. is engaged primarily in the design, manufacture, and sale of furniture systems and furniture, and related products and services, for offices, and, to a lesser extent, for health-care facilities and other uses. Through research, the company seeks to define and clarify customer needs and problems existing in its markets and to design, through innovation where feasible, products and systems as solutions to such problems.”

Insitutional Activity: The institutional sentiment decreased to 1.15 in 2016 Q2. Its down 0.04, from 1.19 in 2016Q1. The ratio worsened, as 19 funds sold all Herman Miller, Inc. shares owned while 74 reduced positions. 27 funds bought stakes while 80 increased positions. They now own 47.83 million shares or 0.61% less from 48.13 million shares in 2016Q1.
Palisade Capital Management Ltd Liability Nj holds 0.55% of its portfolio in Herman Miller, Inc. (NASDAQ:MLHR) for 505,019 shares. Suntrust Banks Inc last reported 100,219 shares in the company. Ridgeworth Capital Mgmt Lc accumulated 0.46% or 1.72M shares. Mutual Of America Cap Mngmt Ltd Liability Corp holds 45,079 shares or 0.03% of its portfolio. Public Employees Retirement Association Of Colorado holds 0% of its portfolio in Herman Miller, Inc. (NASDAQ:MLHR) for 16,447 shares. Moreover, Susquehanna Int Group Limited Liability Partnership has 0% invested in Herman Miller, Inc. (NASDAQ:MLHR) for 45,233 shares. Natl Bank Of America De holds 0% or 248,299 shares in its portfolio. Sg Americas Securities Limited Liability Co, a New York-based fund reported 61,547 shares. Harris Lp holds 0.09% or 1.50 million shares in its portfolio. Dimensional Fund Lp owns 1.40M shares or 0.02% of their US portfolio. The Wisconsin-based Natl Wi has invested 0.31% in Herman Miller, Inc. (NASDAQ:MLHR). Spark Invest Mngmt Ltd Liability Corp accumulated 0.22% or 80,200 shares. Moreover, Ameriprise has 0% invested in Herman Miller, Inc. (NASDAQ:MLHR) for 172,620 shares. Quantbot Technology L P has 10,991 shares for 0.03% of their US portfolio. Morgan Stanley has invested 0.01% of its portfolio in Herman Miller, Inc. (NASDAQ:MLHR).

Insider Transactions: Since April 14, 2016, the stock had 0 insider buys, and 12 selling transactions for $2.90 million net activity. TERRELL DOROTHY A had sold 6,100 shares worth $187,623 on Tuesday, April 26. $197,067 worth of Herman Miller, Inc. (NASDAQ:MLHR) was sold by Goeman Donald D on Thursday, April 14. Lopez Hezron T. sold $60,288 worth of Herman Miller, Inc. (NASDAQ:MLHR) on Friday, July 22. Another trade for 3,055 shares valued at $99,288 was made by Kurburski Jeffrey L. on Thursday, August 4. Ramirez Michael F. had sold 2,676 shares worth $82,956. WALKER BRIAN C had sold 25,951 shares worth $852,381. On Friday, July 22 Gane Stephen C sold $191,436 worth of the stock or 5,936 shares.

More notable recent Herman Miller, Inc. (NASDAQ:MLHR) news were published by: Fool.com which released: “Why Herman Miller, Inc. Shares Dropped Today” on September 22, 2016, also Prnewswire.com with their article: “Herman Miller Named a 2016 Healthiest 100 Workplace in America┬«” published on September 29, 2016, Marketwatch.com published: “Herman Miller shares fall on earnings miss, weak outlook” on September 21, 2016. More interesting news about Herman Miller, Inc. (NASDAQ:MLHR) were released by: Prnewswire.com and their article: “Herman Miller, Inc. Opens New York Flagship” published on May 12, 2016 as well as Seekingalpha.com‘s news article titled: “Herman Miller: $30 Or So Still Looks About Right” with publication date: September 26, 2016.

MLHR Company Profile

Herman Miller, Inc., incorporated on July 21, 1981, is engaged 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 Company’s divisions 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 activities 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 activities 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 activities 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 activities 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.

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