Herman Miller, Inc. (NASDAQ:MLHR) CEO Brian C. Walker sold 90,003 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $36.27, for a total transaction of $3,264,408.81. Following the completion of the transaction, the chief executive officer now directly owns 226,389 shares in the company, valued at $8,211,129.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Herman Miller, Inc. (MLHR) opened at $37.25 on Tuesday. Herman Miller, Inc. has a twelve month low of $28.55 and a twelve month high of $41.85. The company has a quick ratio of 0.89, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2,222.72, a P/E ratio of 18.44 and a beta of 1.34.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The company had revenue of $604.60 million during the quarter, compared to the consensus estimate of $603.77 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. research analysts expect that Herman Miller, Inc. will post 2.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Saturday, March 3rd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.93%. Herman Miller’s dividend payout ratio is presently 35.64%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Friday, December 29th. BidaskClub upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research report on Tuesday, December 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Herman Miller has an average rating of “Buy” and an average price target of $41.67.
Several large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of Herman Miller by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,872 shares of the business services provider’s stock worth $4,009,000 after buying an additional 1,008 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Herman Miller by 6.5% during the 4th quarter. Victory Capital Management Inc. now owns 23,985 shares of the business services provider’s stock worth $961,000 after buying an additional 1,455 shares during the last quarter. ING Groep NV increased its holdings in shares of Herman Miller by 23.2% in the 4th quarter. ING Groep NV now owns 9,020 shares of the business services provider’s stock valued at $361,000 after acquiring an additional 1,696 shares during the period. Meadow Creek Investment Management LLC increased its holdings in shares of Herman Miller by 30.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 8,120 shares of the business services provider’s stock valued at $325,000 after acquiring an additional 1,876 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Herman Miller by 3.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 56,379 shares of the business services provider’s stock valued at $2,024,000 after acquiring an additional 2,082 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.
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Herman Miller Company Profile
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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