Insider Selling: Herman Miller, Inc. (MLHR) Director Sells 13,382 Shares of Stock

Herman Miller, Inc. (NASDAQ:MLHR) Director David O. Ulrich sold 13,382 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $32.38, for a total transaction of $433,309.16. Following the sale, the director now directly owns 21,949 shares of the company’s stock, valued at approximately $710,708.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Herman Miller, Inc. (MLHR) traded up $0.35 during midday trading on Monday, hitting $32.90. 251,500 shares of the company’s stock were exchanged, compared to its average volume of 393,636. The stock has a market capitalization of $1,966.71, a PE ratio of 15.37 and a beta of 1.46. Herman Miller, Inc. has a fifty-two week low of $28.55 and a fifty-two week high of $37.00. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.57. The business had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. sell-side analysts forecast that Herman Miller, Inc. will post 2.32 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Saturday, December 2nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.19%. Herman Miller’s dividend payout ratio is currently 36.00%.

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A number of research firms have issued reports on MLHR. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.00.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio increased its stake in shares of Herman Miller by 6.2% in the second quarter. Strs Ohio now owns 13,700 shares of the business services provider’s stock worth $416,000 after acquiring an additional 800 shares during the period. Prudential Financial Inc. increased its stake in shares of Herman Miller by 20.8% in the second quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock worth $35,895,000 after acquiring an additional 202,970 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Herman Miller in the second quarter worth $1,231,000. Schwab Charles Investment Management Inc. increased its stake in shares of Herman Miller by 10.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 346,148 shares of the business services provider’s stock worth $10,921,000 after acquiring an additional 33,386 shares during the period. Finally, Trillium Asset Management LLC acquired a new stake in shares of Herman Miller in the second quarter worth $2,584,000. 82.17% of the stock is owned by institutional investors and hedge funds.

About Herman Miller

Insider Buying and Selling by Quarter for Herman Miller (NASDAQ:MLHR)

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