Herman Miller, Inc. (NASDAQ:MLHR) EVP Jeremy J. Hocking sold 2,442 shares of Herman Miller stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.40, for a total transaction of $98,656.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Herman Miller, Inc. (MLHR) traded down $0.40 during midday trading on Wednesday, hitting $40.35. 394,097 shares of the stock traded hands, compared to its average volume of 413,950. 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, Inc. has a twelve month low of $28.55 and a twelve month high of $40.85. The stock has a market capitalization of $2,394.12, a price-to-earnings ratio of 19.98 and a beta of 1.48.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The business had revenue of $604.60 million during the quarter, compared to analyst estimates of $603.77 million. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. analysts forecast that Herman Miller, Inc. will post 2.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s payout ratio is 35.64%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP lifted its stake in Herman Miller by 8.8% in the third quarter. First Trust Advisors LP now owns 56,032 shares of the business services provider’s stock worth $2,012,000 after acquiring an additional 4,528 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Herman Miller in the second quarter worth approximately $1,231,000. California Public Employees Retirement System lifted its stake in Herman Miller by 8.5% in the second quarter. California Public Employees Retirement System now owns 127,300 shares of the business services provider’s stock worth $3,870,000 after acquiring an additional 10,000 shares during the last quarter. Suntrust Banks Inc. lifted its stake in Herman Miller by 5.4% in the second quarter. Suntrust Banks Inc. now owns 120,258 shares of the business services provider’s stock worth $3,655,000 after acquiring an additional 6,186 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Herman Miller by 31.8% in the third quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock worth $55,871,000 after acquiring an additional 375,520 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

MLHR has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Herman Miller from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 12th. ValuEngine cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BidaskClub cut shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Raymond James Financial raised shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $41.67.

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Herman Miller Company Profile

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

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