Herman Miller, Inc. (NASDAQ:MLHR) Insider Gregory J. Bylsma Sells 13,288 Shares

Herman Miller, Inc. (NASDAQ:MLHR) insider Gregory J. Bylsma sold 13,288 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $46.17, for a total value of $613,506.96. Following the transaction, the insider now directly owns 15,515 shares in the company, valued at approximately $716,327.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ MLHR traded up $0.90 during mid-day trading on Wednesday, hitting $46.23. The company had a trading volume of 24,854 shares, compared to its average volume of 569,103. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 15.52 and a beta of 1.66. Herman Miller, Inc. has a 12 month low of $28.66 and a 12 month high of $49.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.35 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $43.19 and its two-hundred day simple moving average is $40.14.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. The business had revenue of $670.90 million for the quarter, compared to the consensus estimate of $661.80 million. Herman Miller had a return on equity of 25.80% and a net margin of 6.62%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Equities analysts forecast that Herman Miller, Inc. will post 3.41 earnings per share for the current year.



A number of research analysts have commented on the company. Sidoti increased their target price on Herman Miller from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday. Raymond James increased their target price on Herman Miller from $41.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, June 28th. ValuEngine downgraded Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, BidaskClub raised Herman Miller from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Herman Miller currently has an average rating of “Hold” and a consensus price target of $48.00.

Several hedge funds and other institutional investors have recently made changes to their positions in MLHR. APG Asset Management N.V. lifted its holdings in shares of Herman Miller by 124.4% in the 2nd quarter. APG Asset Management N.V. now owns 511,000 shares of the business services provider’s stock worth $20,058,000 after purchasing an additional 283,300 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Herman Miller during the 2nd quarter valued at $12,265,000. AQR Capital Management LLC raised its stake in Herman Miller by 26.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,245,464 shares of the business services provider’s stock valued at $55,672,000 after acquiring an additional 260,917 shares in the last quarter. Man Group plc raised its stake in Herman Miller by 336.1% during the 2nd quarter. Man Group plc now owns 326,301 shares of the business services provider’s stock valued at $14,586,000 after acquiring an additional 251,479 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Herman Miller during the 2nd quarter valued at $6,743,000. 81.16% of the stock is currently owned by institutional investors and hedge funds.

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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