Insider Selling: Herman Miller, Inc. (MLHR) SVP Sells 8,601 Shares of Stock
Herman Miller, Inc. (NASDAQ:MLHR) SVP Stephen C. Gane sold 8,601 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $41.00, for a total value of $352,641.00. Following the transaction, the senior vice president now directly owns 11,366 shares of the company’s stock, valued at $466,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Stephen C. Gane also recently made the following trade(s):
- On Friday, January 5th, Stephen C. Gane sold 30,988 shares of Herman Miller stock. The stock was sold at an average price of $39.77, for a total value of $1,232,392.76.
Shares of Herman Miller, Inc. (MLHR) traded down $0.40 during mid-day trading on Thursday, hitting $40.10. The company’s stock had a trading volume of 283,445 shares, compared to its average volume of 378,692. The firm has a market cap of $2,400.00, a P/E ratio of 19.75 and a beta of 1.48. Herman Miller, Inc. has a 52-week low of $28.55 and a 52-week high of $41.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Saturday, December 2nd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, November 30th. Herman Miller’s dividend payout ratio (DPR) is 35.47%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its holdings in shares of Herman Miller by 4.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 428,183 shares of the business services provider’s stock valued at $17,149,000 after acquiring an additional 20,138 shares in the last quarter. BerganKDV Wealth Management LLC acquired a new stake in shares of Herman Miller during the 4th quarter valued at $213,000. Bank of Montreal Can boosted its holdings in shares of Herman Miller by 34.3% during the 4th quarter. Bank of Montreal Can now owns 131,228 shares of the business services provider’s stock valued at $5,255,000 after acquiring an additional 33,491 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Herman Miller during the 4th quarter valued at $308,000. Finally, Prudential Financial Inc. boosted its holdings in shares of Herman Miller by 31.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock valued at $55,871,000 after acquiring an additional 375,520 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.
MLHR has been the topic of several analyst reports. Zacks Investment Research lowered Herman Miller from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. BidaskClub raised Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Herman Miller has an average rating of “Buy” and an average price target of $41.67.
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Herman Miller Company Profile
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.
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