Kevin J. Veltman Sells 1,190 Shares of Herman Miller, Inc. (MLHR) Stock

Herman Miller, Inc. (NASDAQ:MLHR) VP Kevin J. Veltman sold 1,190 shares of the company’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 document filed with the SEC, which is available at this link.

Herman Miller, Inc. (NASDAQ:MLHR) opened at $39.85 on Friday. Herman Miller, Inc. has a fifty-two week low of $28.55 and a fifty-two week high of $40.85. The firm has a market cap of $2,394.12, a PE ratio of 18.46 and a beta of 1.48. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The firm had revenue of $604.60 million for the quarter, compared to analyst estimates of $603.77 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. sell-side analysts forecast that Herman Miller, Inc. will post 2.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be issued a $0.18 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.81%. Herman Miller’s dividend payout ratio is presently 35.64%.

Several institutional investors and hedge funds have recently bought and sold shares of MLHR. Riverhead Capital Management LLC raised its holdings in shares of Herman Miller by 67.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after acquiring an additional 1,494 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after acquiring an additional 26 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Herman Miller in the 3rd quarter worth about $211,000. Associated Banc Corp acquired a new stake in shares of Herman Miller in the 3rd quarter worth about $252,000. Finally, Amalgamated Bank raised its holdings in shares of Herman Miller by 4.1% in the 2nd quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock worth $260,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Several brokerages have recently weighed in on MLHR. Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Tuesday, December 26th. BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Zacks Investment Research upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, ValuEngine lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $41.67.

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