Herman Miller, Inc. Declares Quarterly Dividend of $0.17 (MLHR)

Herman Miller, Inc. (NASDAQ:MLHR) announced a quarterly dividend on Tuesday, April 18th. Investors of record on Saturday, June 3rd will be paid a dividend of 0.17 per share by the business services provider on Saturday, July 15th. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, May 31st.

Shares of Herman Miller (NASDAQ:MLHR) traded down 0.16% during midday trading on Tuesday, reaching $31.25. 341,258 shares of the company were exchanged. The firm’s 50 day moving average is $30.87 and its 200-day moving average is $31.07. Herman Miller has a 52-week low of $26.99 and a 52-week high of $36.46. The company has a market capitalization of $1.87 billion, a PE ratio of 14.40 and a beta of 1.45.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Wednesday, March 22nd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. Herman Miller had a net margin of 5.95% and a return on equity of 24.45%. The company earned $524.90 million during the quarter, compared to the consensus estimate of $530.50 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that Herman Miller will post $2.08 earnings per share for the current fiscal year.

Dividend History for Herman Miller (NASDAQ:MLHR)

Several equities analysts have recently issued reports on MLHR shares. Raymond James Financial, Inc. raised shares of Herman Miller from an “underperform” rating to a “market perform” rating in a report on Thursday, March 23rd. Zacks Investment Research raised shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Wednesday, March 8th. Finally, Cann downgraded shares of Herman Miller from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Herman Miller currently has an average rating of “Hold” and an average target price of $35.00.

In related news, insider Andrew J. Lock sold 908 shares of Herman Miller stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $31.50, for a total transaction of $28,602.00. Following the sale, the insider now directly owns 29,029 shares in the company, valued at $914,413.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald D. Goeman sold 4,111 shares of Herman Miller stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $31.41, for a total transaction of $129,126.51. Following the sale, the executive vice president now owns 7,029 shares in the company, valued at $220,780.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,017 shares of company stock worth $188,617. Company insiders own 1.91% of the company’s stock.

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