Herman Miller, Inc. (MLHR) SVP Stephen C. Gane Sells 10,686 Shares of Stock
Herman Miller, Inc. (NASDAQ:MLHR) SVP Stephen C. Gane sold 10,686 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.01, for a total transaction of $384,802.86. Following the completion of the transaction, the senior vice president now owns 21,985 shares of the company’s stock, valued at $791,679.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Herman Miller, Inc. (MLHR) opened at 36.50 on Tuesday. Herman Miller, Inc. has a 52-week low of $26.99 and a 52-week high of $37.00. The firm has a market cap of $2.18 billion, a PE ratio of 18.25 and a beta of 1.46. The stock has a 50 day moving average price of $33.97 and a 200-day moving average price of $32.62.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The company had revenue of $580.30 million for the quarter, compared to the consensus estimate of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. On average, equities analysts anticipate that Herman Miller, Inc. will post $2.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.97%. This is an increase 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 36.00%.
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A number of research firms have recently weighed in on MLHR. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, July 11th. Sidoti assumed coverage on shares of Herman Miller in a research note on Tuesday, June 27th. They set a “buy” rating and a $38.00 price objective for the company. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $38.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MLHR. Meadow Creek Investment Management LLC lifted its stake in Herman Miller by 5.1% during the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after purchasing an additional 168 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in Herman Miller by 67.9% in the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 1,494 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 181 shares in the last quarter. First Bank & Trust boosted its holdings in 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 purchasing an additional 158 shares in the last quarter. Finally, Sei Investments Co. increased its stake in 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 purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
About Herman Miller
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