The CTO of Herman Miller is Exercising Options

Yesterday it was reported that the CTO of Herman Miller (MLHRResearch Report), Jeffrey Kurburski, exercised options to sell 4,446 MLHR shares at $21.38 a share, for a total transaction value of $201.2K.

Following Jeffrey Kurburski’s last MLHR Sell transaction on December 28, 2020, the stock climbed by 11.0%. In addition to Jeffrey Kurburski, one other MLHR executive reported Sell trades in the last month.

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Based on Herman Miller’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $622 million and quarterly net profit of $7.4 million. In comparison, last year the company earned revenue of $476 million and had a GAAP net loss of $174 million. The company has a one-year high of $51.25 and a one-year low of $21.91. MLHR’s market cap is $2.61 billion and the company has a P/E ratio of 15.30.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $61.00, reflecting a -27.0% downside.

The insider sentiment on Herman Miller has been negative according to 14 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Herman Miller, Inc. engages in the research, design, manufacture, and distribution of interior furnishings for use in various environments including office, healthcare, educational, and residential settings. It operates through the following segments: North America Contract, International Contract, Retail, and Corporate. The North America Contract segment includes the operations associated with the design, manufacture, and sale of furniture and textile products for work-related settings throughout the United States and Canada. The International Contract segment covers operations in the Europe, Middle East, and Africa; Latin America; and Asia-Pacific geographic regions. The Retail segment focuses on the sale of modern design furnishings and accessories to third party retail distributors. The Corporate segment consists of unallocated expenses related to general corporate functions including certain legal, executive, corporate finance, information technology, administrative, and acquisition-related costs. The company was founded by Dirk Jan de Pree in 1905 and is headquartered in Zeeland, MI.