Insider Selling: Herman Miller, Inc. (MLHR) Insider Sells $829,545.09 in Stock
Herman Miller, Inc. (NASDAQ:MLHR) insider Andrew J. Lock sold 24,277 shares of Herman Miller stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $34.17, for a total transaction of $829,545.09. Following the sale, the insider now directly owns 26,388 shares in the company, valued at approximately $901,677.96. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Herman Miller, Inc. (NASDAQ MLHR) opened at 35.90 on Monday. Herman Miller, Inc. has a 12-month low of $26.99 and a 12-month high of $36.45. The company has a market cap of $2.15 billion, a P/E ratio of 17.95 and a beta of 1.46. The firm has a 50-day moving average price of $33.52 and a 200-day moving average price of $32.35.
Herman Miller (NASDAQ:MLHR) last issued its earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.57. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The business had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. During the same period last year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Herman Miller, Inc. will post $2.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be issued a $0.18 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.01%. Herman Miller’s payout ratio is presently 36.00%.
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A number of large investors have recently made changes to their positions in MLHR. BlackRock Inc. increased its holdings in Herman Miller by 22,901.9% during the 1st quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock worth $192,154,000 after purchasing an additional 6,063,973 shares during the period. Royce & Associates LP raised its position in Herman Miller by 50.2% during the 2nd quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock valued at $72,108,000 after purchasing an additional 793,188 shares in the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Herman Miller by 23.6% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,543,957 shares of the business services provider’s stock worth $46,936,000 after buying an additional 294,356 shares during the period. LSV Asset Management lifted its holdings in shares of Herman Miller by 15.1% in the 2nd quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock worth $57,456,000 after buying an additional 247,300 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Herman Miller by 20.8% in the 2nd quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock worth $35,895,000 after buying an additional 202,970 shares during the period. 83.96% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on MLHR. Zacks Investment Research downgraded shares of Herman Miller from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub raised Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Sidoti began coverage on Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Herman Miller has a consensus rating of “Hold” and an average price target of $38.00.
Herman Miller Company Profile
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