What Will The Effects of a Raymond James Downgrade Be For Herman Miller (NASDAQ:MLHR) Shares?


Herman Miller (NASDAQ:MLHR) Receives a Downgrade

Shares of New York-listed Herman Miller (NASDAQ:MLHR) Have been downgraded by analysts at Raymond James. Raymond James cut their rating for the $1.78 billion market cap company to a “Mkt Perform” from their previous “Outperform” rating.

Approximately 436,634 shares of stock traded hands or 27.36% up from the average. Herman Miller, Inc. (NASDAQ:MLHR) has risen 8.11% since May 15, 2015 and is uptrending. It has outperformed by 11.92% the S&P500.

The overall sentiment of institutions has increased to 1.33 in Q2 2015. Its up 0.32, from 1.01 in 2015Q2. The ratio increased, as 24 institutions have sold all the shares of Herman Miller, Inc. that they owned while 64 funds have taken shares off the table. 30 funds have purchased shares for the first time while 87 added to their positions. These institutions now hold 44.31 million shares or 9.12% less than the 48.76 million shares they owned in 2015Q2.

The Fund Sg Capital Management Llc currently is holding shares equating to 3.6% of its total portfolio in Herman Miller, Inc. representing a total of 565,457 shares. Another fund,Goodman Financial Corp, is holding a total of 148,146 shares equating to 2.72% of their holdings. Additionally, Kerrisdale Advisers Llc has a 261,818 share stake in Herman Miller, Inc. which represents 2.2% of their total portfolio. The Fund, Van Berkom & Associates Inc., based out of Quebec – Canada, has also built up a stake in the stock, which represents a total of 2.17% of their total portfolio. Finally Netols Asset Management Inc., a fund which is based in the state of Wisconsin reported a total holdings of 215,502 shares.

Insider activity is a very important aspect to track on any stock. Going back to April 20, 2015, shareholders of Herman Miller, Inc. have witnessed 0 insider buys, and a total of 9 insider sales equating to a net activity of approximately $2.63 million . French Douglas D sold 5,519 shares worth approximately $176,608. Ulrich David O sold 11,922 shares worth approximately $381,385. Kurburski Jeffrey L. sold 2,676 shares worth approximately $84,294. Bylsma Gregory J sold 3,000 shares worth approximately $92,297. The company insider Walker Brian C sold 41,732 shares worth $1.28 million.

Herman Miller, Inc., researches, designs, makes, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. The company has a market cap of $1.78 billion. It operates in three divisions: North American Furniture Solutions, which 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; ELA Furniture Solutions, which includes EMEA, Latin America, and Asia-Pacific. It has 16.33 P/E ratio.

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.”