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.
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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