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

Herman Miller (NASDAQ:MLHR) opened at $40.55 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. Herman Miller has a 12 month low of $28.55 and a 12 month high of $41.00. The stock has a market capitalization of $2,420.00, a P/E ratio of 19.98 and a beta of 1.48.

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 analysts’ consensus estimates of $0.57. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The company had revenue of $604.60 million for the quarter, compared to analyst estimates of $603.77 million. During the same period in the prior year, the firm earned $0.54 earnings per share. Herman Miller’s revenue for the quarter was up 4.7% on a year-over-year basis. equities research analysts anticipate that Herman Miller will post 2.35 EPS for the current year.

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

MLHR has been the topic of several recent analyst reports. ValuEngine lowered Herman Miller from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Raymond James Financial raised Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Tuesday, December 26th. Zacks Investment Research lowered Herman Miller from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub raised Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.67.

In other Herman Miller news, VP Kevin J. Veltman sold 1,190 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total value of $47,933.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stephen C. Gane sold 8,601 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $41.00, for a total value of $352,641.00. Following the completion of the transaction, the senior vice president now directly owns 11,366 shares in the company, valued at $466,006. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,603 shares of company stock worth $2,164,933. 1.91% of the stock is owned by insiders.

Several large investors have recently modified their holdings of MLHR. Schwab Charles Investment Management Inc. raised its position in shares of Herman Miller by 6.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 368,745 shares of the business services provider’s stock worth $11,210,000 after purchasing an additional 22,597 shares during the period. Legal & General Group Plc raised its position in shares of Herman Miller by 17.1% during the second quarter. Legal & General Group Plc now owns 49,117 shares of the business services provider’s stock worth $1,494,000 after purchasing an additional 7,162 shares during the period. Victory Capital Management Inc. raised its position in shares of Herman Miller by 8.1% during the second quarter. Victory Capital Management Inc. now owns 17,713 shares of the business services provider’s stock worth $538,000 after purchasing an additional 1,325 shares during the period. Principal Financial Group Inc. raised its position in shares of Herman Miller by 4.0% during the second quarter. Principal Financial Group Inc. now owns 281,762 shares of the business services provider’s stock worth $8,566,000 after purchasing an additional 10,749 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Herman Miller by 64.0% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 19,407 shares of the business services provider’s stock worth $590,000 after purchasing an additional 7,570 shares during the period. 82.39% of the stock is currently owned by institutional investors.

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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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