Herman Miller, Inc. (MLHR) CEO Brian C. Walker Sells 14,000 Shares
Herman Miller, Inc. (NASDAQ:MLHR) CEO Brian C. Walker sold 14,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $34.80, for a total value of $487,200.00. Following the completion of the sale, the chief executive officer now directly owns 160,979 shares in the company, valued at $5,602,069.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Herman Miller, Inc. (NASDAQ MLHR) traded down 3.15% during midday trading on Thursday, reaching $33.85. The company had a trading volume of 774,695 shares. The firm has a market capitalization of $2.03 billion, a P/E ratio of 16.51 and a beta of 1.44. The stock’s 50 day moving average price is $33.52 and its 200-day moving average price is $32.35. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $36.45.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Wednesday, September 20th. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The business had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. During the same quarter in the prior year, the business earned $0.60 EPS. Herman Miller’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Herman Miller, Inc. will post $2.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. Herman Miller’s dividend payout ratio is 35.12%.
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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Herman Miller by 22,901.9% in the 1st quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock valued at $192,154,000 after buying an additional 6,063,973 shares during the last quarter. Vanguard Group Inc. grew its stake in Herman Miller by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,693,634 shares of the business services provider’s stock valued at $179,635,000 after buying an additional 79,322 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Herman Miller by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,733,007 shares of the business services provider’s stock valued at $86,227,000 after buying an additional 244,532 shares during the last quarter. Royce & Associates LP grew its stake in Herman Miller by 50.2% in the 2nd quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock valued at $72,108,000 after buying an additional 793,188 shares during the last quarter. Finally, State Street Corp grew its stake in Herman Miller by 3.5% in the 2nd quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock valued at $61,971,000 after buying an additional 68,974 shares during the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
A number of equities research analysts recently weighed in on MLHR shares. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, July 11th. Sidoti started coverage on Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 target price on the stock. Finally, BidaskClub raised Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Herman Miller has a consensus rating of “Hold” and an average target price of $38.00.
Herman Miller Company Profile
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