Herman Miller, Inc. (NASDAQ:MLHR) CEO Brian C. Walker sold 14,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $32.73, for a total value of $458,220.00. Following the transaction, the chief executive officer now owns 160,979 shares of the company’s stock, valued at approximately $5,268,842.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Herman Miller, Inc. (NASDAQ MLHR) traded up 0.3041% on Wednesday, reaching $32.9499. The company’s stock had a trading volume of 37,351 shares. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.0731 and a beta of 1.45. The company’s 50-day moving average is $33.29 and its 200 day moving average is $31.88. Herman Miller, Inc. has a 12-month low of $26.99 and a 12-month high of $36.46.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. The firm had revenue of $577.20 million during the quarter, compared to analyst estimates of $583.53 million. During the same quarter in the previous year, the business earned $0.56 EPS. Herman Miller’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts anticipate that Herman Miller, Inc. will post $2.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.19%. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s payout ratio is presently 33.17%.

TRADEMARK VIOLATION WARNING: “Insider Selling: Herman Miller, Inc. (MLHR) CEO Sells 14,000 Shares of Stock” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/08/23/insider-selling-herman-miller-inc-mlhr-ceo-sells-14000-shares-of-stock.html.

Several research analysts have commented on MLHR shares. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, July 11th. Sidoti started coverage on Herman Miller in a research note on Tuesday, June 27th. They issued a “buy” rating and a $38.00 target price for the company. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $38.00.

A number of large investors have recently bought and sold shares of MLHR. Sei Investments Co. boosted its position in shares of 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 boosted its position in shares of 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 boosted its position 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 valued at $146,000 after buying an additional 138 shares in the last quarter. First Bank & Trust boosted its position 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 valued at $121,000 after buying an additional 158 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its position 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 valued at $109,000 after buying an additional 168 shares in the last quarter. Institutional investors own 86.12% of the company’s stock.

About Herman Miller

Insider Buying and Selling by Quarter for Herman Miller (NASDAQ:MLHR)

Receive News & Ratings for Herman Miller Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller Inc. and related companies with MarketBeat.com's FREE daily email newsletter.