Herman Miller, Inc. (NASDAQ:MLHR) SVP Hezron T. Lopez sold 2,312 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $33.96, for a total transaction of $78,515.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Herman Miller, Inc. (NASDAQ MLHR) traded up 0.15% on Monday, reaching $33.80. The company’s stock had a trading volume of 250,324 shares. The stock has a market capitalization of $2.02 billion, a P/E ratio of 16.49 and a beta of 1.44. Herman Miller, Inc. has a 1-year low of $26.99 and a 1-year high of $36.46. The company has a 50 day moving average of $32.02 and a 200 day moving average of $31.59.

Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The company had revenue of $577.20 million for the quarter, compared to analyst estimates of $583.53 million. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. Herman Miller’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. Equities research analysts expect that Herman Miller, Inc. will post $2.30 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be issued a $0.18 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.13%. Herman Miller’s dividend payout ratio is 33.17%.

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Several brokerages recently commented on MLHR. Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, March 28th. Sidoti began coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $38.00.

Several hedge funds have recently bought and sold shares of the stock. Legato Capital Management LLC raised its stake in Herman Miller by 890.0% in the second quarter. Legato Capital Management LLC now owns 32,503 shares of the business services provider’s stock worth $988,000 after buying an additional 29,220 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in Herman Miller by 23.6% in the second quarter. Van Berkom & Associates Inc. now owns 1,543,957 shares of the business services provider’s stock worth $46,936,000 after buying an additional 294,356 shares during the last quarter. State Treasurer State of Michigan raised its stake in Herman Miller by 1.2% in the second quarter. State Treasurer State of Michigan now owns 24,630 shares of the business services provider’s stock worth $749,000 after buying an additional 300 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Herman Miller by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the business services provider’s stock worth $474,000 after buying an additional 500 shares during the last quarter. Finally, LS Investment Advisors LLC raised its stake in Herman Miller by 17.5% in the second quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock worth $146,000 after buying an additional 714 shares during the last quarter. 84.26% of the stock is currently owned by institutional investors and hedge funds.

Herman Miller Company Profile

Insider Buying and Selling by Quarter for Herman Miller (NASDAQ:MLHR)

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