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 transaction of $47,933.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded down $0.45 during midday trading on Friday, hitting $41.05. 376,332 shares of the stock were exchanged, compared to its average volume of 332,440. The stock has a market capitalization of $2,476.32, a P/E ratio of 20.32 and a beta of 1.48. Herman Miller, Inc. has a 1-year low of $28.55 and a 1-year high of $41.85. 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 quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $604.60 million during the quarter, compared to the consensus estimate of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. analysts expect that Herman Miller, Inc. will post 2.35 EPS for the current fiscal year.

A number of equities analysts have issued reports on MLHR shares. 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 upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. BidaskClub upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Finally, Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Tuesday, December 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.67.

Several hedge funds and other institutional investors have recently modified their holdings of MLHR. Riverhead Capital Management LLC grew its holdings in shares of Herman Miller by 67.9% during the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after buying an additional 1,494 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Herman Miller by 0.6% during the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after buying an additional 26 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Herman Miller during the third quarter worth about $211,000. BerganKDV Wealth Management LLC purchased a new stake in shares of Herman Miller during the fourth quarter worth about $213,000. Finally, UMB Bank N A MO purchased a new stake in shares of Herman Miller during the fourth quarter worth about $239,000. Institutional investors and hedge funds own 82.62% of the company’s stock.

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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.

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

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