Brian C. Walker Sells 90,003 Shares of Herman Miller, Inc. (MLHR) Stock

Herman Miller, Inc. (NASDAQ:MLHR) CEO Brian C. Walker sold 90,003 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $36.27, for a total value of $3,264,408.81. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Herman Miller, Inc. (NASDAQ MLHR) opened at $36.35 on Wednesday. The firm has a market capitalization of $2,170.00, a price-to-earnings ratio of 17.91 and a beta of 1.34. Herman Miller, Inc. has a 52-week low of $28.55 and a 52-week 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 posted its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The firm had revenue of $604.60 million for the quarter, compared to analyst estimates of $603.77 million. During the same period in the previous year, the firm earned $0.54 earnings per share. Herman Miller’s quarterly revenue was up 4.7% on a year-over-year basis. equities analysts predict that Herman Miller, Inc. will post 2.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Saturday, March 3rd will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, March 1st. Herman Miller’s payout ratio is currently 35.47%.

Hedge funds have recently modified their holdings of the business. First Trust Advisors LP increased its position in Herman Miller by 8.8% in the 3rd quarter. First Trust Advisors LP now owns 56,032 shares of the business services provider’s stock worth $2,012,000 after purchasing an additional 4,528 shares during the last quarter. California Public Employees Retirement System increased its position in Herman Miller by 8.4% in the 3rd quarter. California Public Employees Retirement System now owns 138,056 shares of the business services provider’s stock worth $4,956,000 after purchasing an additional 10,756 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in Herman Miller by 78.8% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,707 shares of the business services provider’s stock worth $1,246,000 after purchasing an additional 15,300 shares during the last quarter. Prudential Financial Inc. increased its position in Herman Miller by 31.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock worth $55,871,000 after purchasing an additional 375,520 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. increased its position in Herman Miller by 22.8% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 446,816 shares of the business services provider’s stock worth $16,041,000 after purchasing an additional 83,087 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

MLHR has been the topic of several recent analyst reports. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, December 29th. BidaskClub raised Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. ValuEngine raised Herman Miller from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, 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 report on Tuesday, December 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.67.

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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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