Herman Miller, Inc. (NASDAQ:MLHR) insider Gregory J. Bylsma sold 9,435 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $33.88, for a total transaction of $319,657.80. Following the transaction, the insider now owns 42,534 shares of the company’s stock, valued at approximately $1,441,051.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Herman Miller, Inc. (MLHR) remained flat at $33.00 during mid-day trading on Friday. 425,424 shares of the company’s stock traded hands. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 16.10 and a beta of 1.45. Herman Miller, Inc. has a 52 week low of $26.99 and a 52 week high of $36.46. The firm’s 50-day moving average is $33.22 and its 200-day moving average is $31.86.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Wednesday, July 5th. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $583.53 million. During the same quarter last year, the firm posted $0.56 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Equities analysts anticipate that Herman Miller, Inc. will post $2.27 EPS for the current fiscal 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 $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 dividend on an annualized basis and a yield of 2.18%. Herman Miller’s dividend payout ratio (DPR) is presently 33.17%.

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A number of hedge funds have recently made changes to their positions in MLHR. Meadow Creek Investment Management LLC raised its stake in shares of Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after buying an additional 168 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Herman Miller by 67.9% in the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after buying an additional 1,494 shares during the last quarter. First Bank & Trust raised its stake in shares of Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock worth $121,000 after buying an additional 448 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after buying an additional 181 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in shares of 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 worth $132,000 after buying an additional 204 shares during the last quarter. 86.12% of the stock is owned by institutional investors.

MLHR has been the subject of several analyst reports. Sidoti initiated coverage on shares of Herman Miller in a report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target for the company. Zacks Investment Research lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Finally, BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Herman Miller has an average rating of “Hold” and an average price target of $38.00.

About Herman Miller

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

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