Herman Miller, Inc. (NASDAQ:MLHR) CEO Brian C. Walker sold 90,003 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 226,389 shares of the company’s stock, valued at approximately $8,211,129.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded up $0.30 during midday trading on Monday, reaching $36.75. The company’s stock had a trading volume of 339,450 shares, compared to its average volume of 368,067. Herman Miller, Inc. has a 12-month low of $28.55 and a 12-month high of $41.85. The firm has a market capitalization of $2,174.98, a PE ratio of 18.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 0.89.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 analysts’ expectations of $603.77 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Herman Miller’s revenue for the quarter was up 4.7% compared to the same quarter last year. research analysts anticipate that Herman Miller, Inc. will post 2.35 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in MLHR. Prudential Financial Inc. raised its stake in Herman Miller by 31.8% during the third quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock valued at $55,871,000 after buying an additional 375,520 shares in the last quarter. BlackRock Inc. raised its stake in Herman Miller by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,323,198 shares of the business services provider’s stock valued at $253,243,000 after buying an additional 195,666 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in Herman Miller during the third quarter valued at approximately $7,007,000. LSV Asset Management raised its stake in Herman Miller by 8.1% during the fourth quarter. LSV Asset Management now owns 2,341,157 shares of the business services provider’s stock valued at $93,763,000 after buying an additional 174,996 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. raised its stake in Herman Miller by 22.8% during the third quarter. Speece Thorson Capital Group Inc. now owns 446,816 shares of the business services provider’s stock valued at $16,041,000 after buying an additional 83,087 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.
MLHR has been the subject of a number of analyst reports. Zacks Investment Research downgraded Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, November 22nd. ValuEngine downgraded Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub downgraded Herman Miller from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Raymond James Financial raised Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Tuesday, December 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target 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.
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