During the last session, Herman Miller Inc. (NASDAQ:MLHR)’s traded shares were 0.47 million, with the beta value of the company hitting 1.32. At the end of the trading day, the stock’s price was $42.57, reflecting an intraday gain of 0.54% or $0.23. The 52-week high for the MLHR share is $51.24, that puts it down -20.37 from that peak though still a striking 48.53% gain since the share price plummeted to a 52-week low of $21.91. The company’s market capitalization is $2.47B, and the average intraday trading volume over the past 10 days was 0.4 million shares, and the average trade volume was 750.13K shares over the past three months.
Herman Miller Inc. (MLHR) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. MLHR has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.56.
Herman Miller Inc. (NASDAQ:MLHR) trade information
Herman Miller Inc. (MLHR) registered a 0.54% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.54% in intraday trading to $42.57 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is -2.09%, and it has moved by -1.71% in 30 days. Based on these gigs, the overall price performance for the year is 76.93%. The short interest in Herman Miller Inc. (NASDAQ:MLHR) is 5.24 million shares and it means that shorts have 7.06 day(s) to cover.
The consensus price target of analysts on Wall Street is $60.75, which implies an increase of 29.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $60.00 and $62.00 respectively. As a result, MLHR is trading at a discount of -45.64% off the target high and -40.94% off the low.
Herman Miller Inc. (MLHR) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to shrink -54.80% this quarter and then drop -7.90% in the quarter after that. In the rating firms’ projections, revenue will increase 17.90% compared to the previous financial year.
Revenue for the current quarter is expected to be $654.47 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $734.42 million by the end of Nov 2021.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 5.20%. While earnings are projected to return -11.70% in 2021, the next five years will return 30.00% per annum.
Herman Miller Inc. is due to release its next quarterly earnings between September 14 and September 20. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Herman Miller Inc. is 0.75, with the dividend yield indicating at 1.76 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 2.07%.
Herman Miller Inc. (NASDAQ:MLHR)’s Major holders
Herman Miller Inc. insiders own 0.64% of total outstanding shares while institutional holders control 88.30%, with the float percentage being 88.87%. Blackrock Inc. is the largest shareholder of the company, while 386 institutions own stock in it. As of Mar 30, 2021, the company held over 7.99 million shares (or 13.53% of all shares), a total value of $328.67 million in shares.
The next largest institutional holding, with 5.92 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 10.03% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $243.75 million.
Also, the Mutual Funds coming in first place with the largest holdings of Herman Miller Inc. (MLHR) shares are Undiscovered Managers Behavioral Value Fund and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2021 indicates that Undiscovered Managers Behavioral Value Fund owns about 1.75 million shares. This amounts to just over 2.97 percent of the company’s overall shares, with a $72.1 million market value. The same data shows that the other fund manager holds slightly less at 1.67 million, or about 2.83% of the stock, which is worth about $68.79 million.