Herman Miller, Inc. (MLHR) CEO Brian C. Walker Sells 14,000 Shares of Stock

Herman Miller, Inc. (NASDAQ:MLHR) CEO Brian C. Walker sold 14,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $35.38, for a total transaction of $495,320.00. Following the sale, the chief executive officer now owns 160,979 shares in the company, valued at approximately $5,695,437.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Herman Miller, Inc. (NASDAQ:MLHR) traded up 0.350% during mid-day trading on Friday, reaching $35.825. 161,165 shares of the company traded hands. Herman Miller, Inc. has a 52 week low of $27.03 and a 52 week high of $37.00. The stock’s 50 day moving average price is $34.89 and its 200 day moving average price is $33.05. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 17.913 and a beta of 1.46.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $580.30 million for the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. Herman Miller’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Equities analysts forecast that Herman Miller, Inc. will post $2.27 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in MLHR. Riverhead Capital Management LLC grew its stake in shares of Herman Miller by 67.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after purchasing an additional 1,494 shares during the period. First Bank & Trust grew its stake in shares of Herman Miller by 4.1% during the 2nd quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock worth $121,000 after purchasing an additional 158 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Herman Miller by 4.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after purchasing an additional 181 shares during the period. Sei Investments Co. grew its stake in shares of Herman Miller by 0.6% during the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after purchasing an additional 26 shares during the period. Finally, LS Investment Advisors LLC grew its stake in shares of Herman Miller by 17.5% during the 2nd quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock worth $146,000 after purchasing an additional 714 shares during the period. 83.96% of the stock is currently owned by institutional investors.

Several analysts recently commented on MLHR shares. Sidoti started coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Herman Miller has an average rating of “Hold” and an average target price of $38.00.

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