Herman Miller Director Sells $106,621 in Stock (MLHR)
Herman Miller (NASDAQ:MLHR) Director J Barry Griswell sold 3,715 shares of Herman Miller stock on the open market in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $28.70, for a total transaction of $106,620.50. Following the transaction, the director now directly owns 20,807 shares in the company, valued at approximately $597,161. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Herman Miller (NASDAQ:MLHR) traded up 0.07% during mid-day trading on Tuesday, hitting $28.85. 200,438 shares of the company’s stock traded hands. Herman Miller has a 52-week low of $23.08 and a 52-week high of $32.31. The stock’s 50-day moving average is $29.48 and its 200-day moving average is $28.87. The company’s market cap is $1.700 billion.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, December 18th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $470.50 million for the quarter, compared to the consensus estimate of $466.97 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that Herman Miller will post $1.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 15th. Shareholders of record on Saturday, March 1st will be given a dividend of 0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Herman Miller’s previous quarterly dividend of $0.13.
Separately, analysts at Jefferson Research downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $31.00.
Herman Miller, Inc researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world.
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