Herman Miller, Inc. (NASDAQ:MLHR) insider Gregory J. Bylsma sold 9,285 shares of the company’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $38.15, for a total value of $354,222.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Herman Miller stock traded up $0.15 during mid-day trading on Thursday, reaching $38.40. 369,848 shares of the stock traded hands, compared to its average volume of 406,691. Herman Miller, Inc. has a fifty-two week low of $29.95 and a fifty-two week high of $41.85. The stock has a market capitalization of $2.25 billion, a P/E ratio of 16.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.56 and a quick ratio of 1.17.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Monday, July 2nd. The business services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. Herman Miller had a return on equity of 21.71% and a net margin of 5.38%. The business had revenue of $618.00 million during the quarter, compared to analysts’ expectations of $601.10 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. research analysts anticipate that Herman Miller, Inc. will post 2.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Saturday, September 1st will be given a $0.198 dividend. The ex-dividend date is Thursday, August 30th. This is a positive change from Herman Miller’s previous quarterly dividend of $0.18. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.06%. Herman Miller’s dividend payout ratio is 31.30%.
A number of research firms recently weighed in on MLHR. ValuEngine raised Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. BidaskClub raised Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, June 13th.
Several hedge funds have recently bought and sold shares of MLHR. Millennium Management LLC grew its position in shares of Herman Miller by 96.5% in the fourth quarter. Millennium Management LLC now owns 506,581 shares of the business services provider’s stock valued at $20,289,000 after purchasing an additional 248,806 shares in the last quarter. LSV Asset Management grew its position in shares of Herman Miller by 7.7% in the first quarter. LSV Asset Management now owns 2,521,607 shares of the business services provider’s stock valued at $80,565,000 after purchasing an additional 180,450 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Herman Miller in the first quarter valued at approximately $5,248,000. Guggenheim Capital LLC grew its position in shares of Herman Miller by 305.5% in the fourth quarter. Guggenheim Capital LLC now owns 213,203 shares of the business services provider’s stock valued at $8,541,000 after purchasing an additional 160,623 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Herman Miller by 54.6% in the fourth quarter. Deutsche Bank AG now owns 416,590 shares of the business services provider’s stock valued at $16,682,000 after purchasing an additional 147,174 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.
About Herman Miller
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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