Herman Miller, Inc. (MLHR) Insider Sells $316,499.04 in Stock

Herman Miller, Inc. (NASDAQ:MLHR) insider Gregory J. Bylsma sold 9,048 shares of Herman Miller stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.98, for a total value of $316,499.04. Following the sale, the insider now owns 37,134 shares of the company’s stock, valued at $1,298,947.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of MLHR stock traded up $0.44 on Friday, hitting $39.00. The stock had a trading volume of 214,140 shares, compared to its average volume of 343,984. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.48 and a quick ratio of 1.02. The company has a market capitalization of $2.29 billion, a P/E ratio of 16.96 and a beta of 1.48. Herman Miller, Inc. has a one year low of $28.66 and a one year high of $40.65.

Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Wednesday, March 20th. The business services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The firm had revenue of $619.00 million during the quarter, compared to the consensus estimate of $622.43 million. Herman Miller had a return on equity of 23.88% and a net margin of 5.81%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts anticipate that Herman Miller, Inc. will post 2.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Saturday, June 1st will be issued a $0.1975 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.79 dividend on an annualized basis and a yield of 2.03%. Herman Miller’s dividend payout ratio is presently 34.35%.

A number of institutional investors have recently made changes to their positions in MLHR. Advisor Group Inc. raised its holdings in Herman Miller by 61.2% in the fourth quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock worth $40,000 after purchasing an additional 499 shares in the last quarter. Bremer Trust National Association purchased a new stake in shares of Herman Miller during the fourth quarter worth about $50,000. Investors Research Corp purchased a new stake in shares of Herman Miller during the first quarter worth about $120,000. First Bank & Trust grew its stake in shares of Herman Miller by 10.6% during the fourth quarter. First Bank & Trust now owns 4,156 shares of the business services provider’s stock worth $126,000 after acquiring an additional 399 shares during the last quarter. Finally, Dupont Capital Management Corp purchased a new stake in shares of Herman Miller during the fourth quarter worth about $165,000. Institutional investors and hedge funds own 82.52% of the company’s stock.

Several analysts recently weighed in on MLHR shares. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Zacks Investment Research downgraded Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, March 14th.

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About Herman Miller

Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.

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

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