Herman Miller, Inc. (NASDAQ:MLHR) VP Kevin J. Veltman sold 1,190 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total transaction of $47,933.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Herman Miller, Inc. (NASDAQ MLHR) traded down $0.30 during mid-day trading on Friday, hitting $40.05. 278,200 shares of the stock traded hands, compared to its average volume of 368,700. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33. Herman Miller, Inc. has a 12 month low of $28.55 and a 12 month high of $40.85. The stock has a market cap of $2,412.06, a price-to-earnings ratio of 19.83 and a beta of 1.48.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The company had revenue of $604.60 million during the quarter, compared to analyst estimates of $603.77 million. During the same quarter last year, the business posted $0.54 EPS. Herman Miller’s quarterly revenue was up 4.7% compared to the same quarter last year. equities research analysts anticipate that Herman Miller, Inc. will post 2.35 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its stake in Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after buying an additional 26 shares in the last quarter. Amalgamated Bank boosted its holdings in Herman Miller by 4.1% in the 2nd quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock valued at $260,000 after purchasing an additional 336 shares during the period. Franklin Resources Inc. boosted its holdings in Herman Miller by 4.0% in the 2nd quarter. Franklin Resources Inc. now owns 12,474 shares of the business services provider’s stock valued at $379,000 after purchasing an additional 474 shares during the period. M&T Bank Corp boosted its holdings in Herman Miller by 3.0% in the 2nd quarter. M&T Bank Corp now owns 16,211 shares of the business services provider’s stock valued at $493,000 after purchasing an additional 475 shares during the period. Finally, Thrivent Financial For Lutherans boosted its holdings in Herman Miller by 1.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 42,260 shares of the business services provider’s stock valued at $1,284,000 after purchasing an additional 720 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.
MLHR has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Wednesday, November 22nd. ValuEngine cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BidaskClub cut shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Tuesday, December 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.67.
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