Herman Miller, Inc. (MLHR) Short Interest Update

Herman Miller, Inc. (NASDAQ:MLHR) saw a large decrease in short interest during the month of December. As of December 29th, there was short interest totalling 881,281 shares, a decrease of 38.5% from the December 15th total of 1,432,771 shares. Based on an average daily trading volume, of 528,915 shares, the short-interest ratio is currently 1.7 days. Currently, 1.5% of the company’s stock are short sold.

In other news, VP Kevin J. Veltman sold 1,190 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total transaction of $47,933.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen C. Gane sold 30,988 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $39.77, for a total transaction of $1,232,392.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,002 shares of company stock valued at $1,812,292. 1.91% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Herman Miller by 3.5% during the second quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock worth $61,971,000 after acquiring an additional 68,974 shares during the period. Dimensional Fund Advisors LP raised its stake in Herman Miller by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,603,814 shares of the business services provider’s stock worth $57,576,000 after acquiring an additional 40,467 shares during the period. Prudential Financial Inc. raised its stake in Herman Miller by 31.8% during the third quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock worth $55,871,000 after acquiring an additional 375,520 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Herman Miller by 0.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,424,530 shares of the business services provider’s stock worth $51,141,000 after acquiring an additional 8,147 shares during the period. Finally, Northern Trust Corp raised its stake in Herman Miller by 0.8% during the second quarter. Northern Trust Corp now owns 1,013,671 shares of the business services provider’s stock worth $30,816,000 after acquiring an additional 7,741 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

MLHR has been the topic of several research analyst reports. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. BidaskClub raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Finally, Raymond James Financial raised shares of 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Herman Miller currently has an average rating of “Buy” and an average target price of $41.67.

Herman Miller (MLHR) opened at $40.50 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33. Herman Miller has a 12-month low of $28.55 and a 12-month high of $41.00. The company has a market cap of $2,420.00, a PE ratio of 19.95 and a beta of 1.48.

Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The firm had revenue of $604.60 million for the quarter, compared to analyst estimates of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. Herman Miller’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. research analysts forecast that Herman Miller will post 2.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Saturday, December 2nd were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.72 annualized dividend and a yield of 1.78%. Herman Miller’s dividend payout ratio (DPR) is 35.47%.

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About Herman Miller

Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.

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