Insider Selling: Herman Miller, Inc. (MLHR) VP Sells 1,190 Shares of Stock

Herman Miller, Inc. (NASDAQ:MLHR) VP Kevin J. Veltman sold 1,190 shares of Herman Miller stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total value of $47,933.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Herman Miller, Inc. (MLHR) traded up $1.45 during mid-day trading on Friday, reaching $40.90. The company had a trading volume of 678,500 shares, compared to its average volume of 383,737. The firm has a market cap of $2,450.00, a PE ratio of 20.15 and a beta of 1.48. Herman Miller, Inc. has a 12 month low of $28.55 and a 12 month high of $40.90. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

Herman Miller (NASDAQ:MLHR) last issued its earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. The business had revenue of $604.60 million for the quarter, compared to analysts’ expectations of $603.77 million. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. equities research analysts anticipate that Herman Miller, Inc. will post 2.35 earnings per share for the current fiscal year.

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

Several research firms recently issued reports on MLHR. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Friday, December 29th. Raymond James Financial upgraded Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Tuesday, December 26th. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Finally, ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $41.67.

Several institutional investors have recently modified their holdings of the company. Sei Investments Co. boosted its holdings 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 last quarter. Amalgamated Bank boosted its holdings 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 worth $260,000 after purchasing an additional 336 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Herman Miller by 4.0% during the 2nd quarter. Franklin Resources Inc. now owns 12,474 shares of the business services provider’s stock worth $379,000 after purchasing an additional 474 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Herman Miller by 3.0% during the 2nd quarter. M&T Bank Corp now owns 16,211 shares of the business services provider’s stock worth $493,000 after purchasing an additional 475 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Herman Miller by 1.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 42,260 shares of the business services provider’s stock worth $1,284,000 after purchasing an additional 720 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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Herman Miller Company Profile

Insider Buying and Selling by Quarter for Herman Miller (NASDAQ:MLHR)

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