Herman Miller, Inc. (NASDAQ:MLHR) CEO Brian C. Walker sold 56,050 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $33.59, for a total value of $1,882,719.50. Following the completion of the sale, the chief executive officer now directly owns 164,929 shares in the company, valued at approximately $5,539,965.11. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Herman Miller, Inc. (NASDAQ:MLHR) remained flat at $33.00 during mid-day trading on Friday. 425,424 shares of the company traded hands. Herman Miller, Inc. has a 12-month low of $26.99 and a 12-month high of $36.46. The firm has a market capitalization of $1.97 billion, a PE ratio of 16.10 and a beta of 1.45. The stock’s 50-day moving average price is $33.22 and its 200-day moving average price is $31.86.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, July 5th. The business services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. The business had revenue of $577.20 million for the quarter, compared to analysts’ expectations of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. Analysts anticipate that Herman Miller, Inc. will post $2.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be given a $0.18 dividend. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, August 30th. Herman Miller’s payout ratio is currently 33.17%.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Herman Miller by 22,901.9% in the first quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock valued at $192,154,000 after buying an additional 6,063,973 shares during the period. Vanguard Group Inc. boosted its stake in shares of Herman Miller by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,693,634 shares of the business services provider’s stock valued at $179,635,000 after buying an additional 79,322 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Herman Miller by 9.8% in the first quarter. JPMorgan Chase & Co. now owns 2,733,007 shares of the business services provider’s stock valued at $86,227,000 after buying an additional 244,532 shares during the period. Royce & Associates LP boosted its stake in shares of Herman Miller by 50.2% in the second quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock valued at $72,108,000 after buying an additional 793,188 shares during the period. Finally, State Street Corp boosted its stake in shares of Herman Miller by 3.5% in the second quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock valued at $61,971,000 after buying an additional 68,974 shares during the period. 86.12% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday. Sidoti assumed coverage on Herman Miller in a research note on Tuesday, June 27th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Zacks Investment Research downgraded Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.00.
Herman Miller Company Profile
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