Herman Miller, Inc. (NASDAQ:MLHR) insider Gregory J. Bylsma sold 9,435 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $33.88, for a total value of $319,657.80. Following the sale, the insider now owns 42,534 shares in the company, valued at $1,441,051.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Herman Miller, Inc. (MLHR) opened at 32.80 on Friday. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $36.46. The firm has a market capitalization of $1.96 billion, a PE ratio of 16.00 and a beta of 1.45. The company has a 50 day moving average price of $32.81 and a 200-day moving average price of $31.79.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.09. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The firm had revenue of $577.20 million during the quarter, compared to the consensus estimate of $583.53 million. During the same period in the prior year, the firm earned $0.56 EPS. The company’s revenue was down .9% compared to the same quarter last year. On average, equities analysts predict that Herman Miller, Inc. will post $2.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s dividend payout ratio is presently 33.17%.
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Several hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in shares of Herman Miller by 4.1% in the first quarter. Wells Fargo & Company MN now owns 195,752 shares of the business services provider’s stock worth $6,177,000 after buying an additional 7,627 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Herman Miller by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,987 shares of the business services provider’s stock valued at $662,000 after buying an additional 300 shares in the last quarter. First Bank & Trust boosted its stake in Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock valued at $121,000 after buying an additional 448 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock valued at $132,000 after buying an additional 204 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in Herman Miller by 727.8% in the first quarter. Sit Investment Associates Inc. now owns 20,075 shares of the business services provider’s stock valued at $633,000 after buying an additional 17,650 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, July 11th. Sidoti assumed coverage on Herman Miller in a research note on Tuesday, June 27th. They set a “buy” rating and a $38.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.00.
Herman Miller Company Profile
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