Herman Miller, Inc. (MLHR) SVP Sells $1,232,392.76 in Stock

Herman Miller, Inc. (NASDAQ:MLHR) SVP Stephen C. Gane sold 30,988 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $39.77, for a total value of $1,232,392.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Herman Miller, Inc. (MLHR) opened at $40.90 on Friday. Herman Miller, Inc. has a 12-month low of $28.55 and a 12-month high of $40.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33. The company has a market capitalization of $2,360.00, a PE ratio of 20.15 and a beta of 1.48.

Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, December 20th. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The firm had revenue of $604.60 million for the quarter, compared to analysts’ expectations of $603.77 million. During the same period last year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. analysts predict that Herman Miller, Inc. will post 2.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend payout ratio (DPR) is presently 35.47%.

Large investors have recently bought and sold shares of the company. Riverhead Capital Management LLC grew its position 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 valued at $112,000 after acquiring an additional 1,494 shares during the period. Sei Investments Co. grew its position 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 valued at $135,000 after acquiring an additional 26 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of Herman Miller during the 3rd quarter valued at about $211,000. Associated Banc Corp acquired a new stake in shares of Herman Miller during the 3rd quarter valued at about $252,000. Finally, Amalgamated Bank grew its position in shares of Herman Miller by 4.1% during the 2nd quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock valued at $260,000 after acquiring an additional 336 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Several equities research analysts have weighed in on MLHR shares. Zacks Investment Research downgraded Herman Miller from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine raised Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. BidaskClub raised Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Finally, Raymond James Financial raised Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Tuesday, December 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Herman Miller presently has an average rating of “Buy” and a consensus target price of $41.67.

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