Herman Miller, Inc. (MLHR) Increases Dividend to $0.18 Per Share
Herman Miller, Inc. (NASDAQ:MLHR) declared a quarterly dividend on Monday, July 17th, Zacks reports. Shareholders of record on Saturday, September 2nd will be paid a dividend of 0.18 per share by the business services provider on Sunday, October 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, August 30th. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17.
Shares of Herman Miller (MLHR) traded down 1.252% during trading on Tuesday, reaching $33.525. The company’s stock had a trading volume of 178,187 shares. The firm has a market capitalization of $2.00 billion, a P/E ratio of 16.354 and a beta of 1.44. Herman Miller has a 52 week low of $26.99 and a 52 week high of $36.46. The company has a 50 day moving average price of $31.54 and a 200 day moving average price of $31.76.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.09. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. The company had revenue of $577.20 million for the quarter, compared to analysts’ expectations of $583.53 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that Herman Miller will post $2.30 EPS for the current fiscal year.
Several equities 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 price target 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 price target on the stock. Raymond James Financial, Inc. raised Herman Miller from an “underperform” rating to a “market perform” rating in a research note on Thursday, March 23rd. Finally, UBS AG raised Herman Miller from an “underperform” rating to a “market perform” rating in a research note on Thursday, March 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.00.
In related news, SVP Michael F. Ramirez sold 1,297 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $33.33, for a total value of $43,229.01. Following the sale, the senior vice president now owns 14,966 shares of the company’s stock, valued at approximately $498,816.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Andrew J. Lock sold 15,966 shares of the company’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $32.05, for a total value of $511,710.30. Following the completion of the sale, the insider now directly owns 38,966 shares in the company, valued at approximately $1,248,860.30. The disclosure for this sale can be found here. Insiders have sold a total of 77,937 shares of company stock worth $2,593,119 in the last three months. Corporate insiders own 1.91% of the company’s stock.
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Herman Miller Company Profile
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