Herman Miller, Inc. (NASDAQ:MLHR) insider Gregory J. Bylsma sold 9,435 shares of the stock in a transaction on Friday, July 21st. The shares were sold at an average price of $33.88, for a total value of $319,657.80. Following the sale, the insider now directly owns 42,534 shares in the company, valued at approximately $1,441,051.92. The sale was disclosed in a document filed with the SEC, which is available at this link.
Herman Miller, Inc. (NASDAQ MLHR) traded up 0.15% during trading on Thursday, hitting $33.20. The company’s stock had a trading volume of 542,402 shares. The company has a 50-day moving average of $32.30 and a 200 day moving average of $31.69. The firm has a market cap of $1.99 billion, a PE ratio of 16.20 and a beta of 1.45. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $36.46.
Herman Miller (NASDAQ:MLHR) last issued its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.09. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The company had revenue of $577.20 million during the quarter, compared to analysts’ expectations of $583.53 million. During the same period last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that Herman Miller, Inc. will post $2.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be issued a $0.18 dividend. The ex-dividend date is Wednesday, August 30th. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.17%. Herman Miller’s dividend payout ratio (DPR) is 33.17%.
Several hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in Herman Miller by 0.6% in the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after buying an additional 26 shares in the last quarter. Ronald Blue & Co. LLC raised its stake in Herman Miller by 1.4% in the second quarter. Ronald Blue & Co. LLC now owns 6,787 shares of the business services provider’s stock valued at $206,000 after buying an additional 91 shares in the last quarter. Forward Management LLC raised its stake in shares of Herman Miller by 3.1% in the first quarter. Forward Management LLC now owns 4,623 shares of the business services provider’s stock worth $146,000 after buying an additional 138 shares during the period. First Bank & Trust raised its stake in shares of Herman Miller by 4.1% in the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock worth $121,000 after buying an additional 158 shares during the period. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 84.47% of the company’s stock.
MLHR has been the subject of several analyst reports. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, July 11th. Sidoti started coverage on Herman Miller in a report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.00.
Herman Miller Company Profile
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