Herman Miller (MLHR) Announces Earnings Results, Beats Estimates By $0.03 EPS

Herman Miller (NASDAQ:MLHR) issued its quarterly earnings results on Wednesday. The business services provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03, RTT News reports. The firm had revenue of $652.60 million for the quarter, compared to analysts’ expectations of $645.67 million. Herman Miller had a return on equity of 23.43% and a net margin of 5.53%. Herman Miller’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Herman Miller updated its Q3 2019 guidance to $0.59-0.63 EPS and its Q3 guidance to $0.59-0.63 EPS.

Shares of NASDAQ MLHR opened at $30.42 on Friday. Herman Miller has a one year low of $29.50 and a one year high of $41.85. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 13.23 and a beta of 1.44. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.42 and a quick ratio of 1.00.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Saturday, December 1st will be given a dividend of $0.1975 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.79 dividend on an annualized basis and a yield of 2.60%. Herman Miller’s payout ratio is presently 34.35%.



MLHR has been the subject of a number of research reports. BidaskClub lowered Herman Miller from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, September 25th.

In other Herman Miller news, insider Gregory J. Bylsma sold 28,533 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $38.25, for a total transaction of $1,091,387.25. Following the completion of the sale, the insider now directly owns 70,405 shares in the company, valued at approximately $2,692,991.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.05% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its holdings in Herman Miller by 2.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 51,194 shares of the business services provider’s stock worth $1,735,000 after purchasing an additional 1,390 shares during the last quarter. NumerixS Investment Technologies Inc lifted its holdings in Herman Miller by 17.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,600 shares of the business services provider’s stock worth $325,000 after purchasing an additional 1,400 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Herman Miller by 1.3% in the 3rd quarter. Teachers Advisors LLC now owns 120,335 shares of the business services provider’s stock worth $4,621,000 after purchasing an additional 1,586 shares during the last quarter. American International Group Inc. lifted its holdings in Herman Miller by 1.1% in the 3rd quarter. American International Group Inc. now owns 159,332 shares of the business services provider’s stock worth $6,118,000 after purchasing an additional 1,686 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Herman Miller by 18.8% in the 3rd quarter. Jane Street Group LLC now owns 10,744 shares of the business services provider’s stock worth $413,000 after purchasing an additional 1,703 shares during the last quarter. Institutional investors and hedge funds own 82.05% of the company’s stock.

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Herman Miller Company Profile

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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Earnings History for Herman Miller (NASDAQ:MLHR)

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