Herman Miller, Inc. (NASDAQ:MLHR) EVP Michael F. Ramirez sold 4,091 shares of Herman Miller stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $33.98, for a total transaction of $139,012.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded up 0.98% during trading on Friday, hitting $35.90. 877,387 shares of the company’s stock were exchanged. Herman Miller, Inc. has a 12-month low of $26.99 and a 12-month high of $36.45. The company has a 50-day moving average of $33.52 and a 200-day moving average of $32.35. The company has a market cap of $2.15 billion, a P/E ratio of 17.95 and a beta of 1.44.

Herman Miller (NASDAQ:MLHR) last issued its earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The business had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. On average, equities analysts expect that Herman Miller, Inc. will post $2.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Saturday, September 2nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, August 30th. Herman Miller’s dividend payout ratio is 36.00%.

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A number of brokerages have issued reports on MLHR. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday. Sidoti began coverage on shares of Herman Miller in a report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Herman Miller has a consensus rating of “Hold” and a consensus price target of $38.00.

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio raised its position in shares of Herman Miller by 6.2% in the second quarter. Strs Ohio now owns 13,700 shares of the business services provider’s stock valued at $416,000 after buying an additional 800 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Herman Miller by 20.8% in the second quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock valued at $35,895,000 after buying an additional 202,970 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Herman Miller in the second quarter valued at about $1,231,000. Schwab Charles Investment Management Inc. raised its position in shares of Herman Miller by 10.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 346,148 shares of the business services provider’s stock valued at $10,921,000 after buying an additional 33,386 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its position in shares of Herman Miller by 43.3% in the first quarter. Tudor Investment Corp ET AL now owns 25,593 shares of the business services provider’s stock valued at $807,000 after buying an additional 7,733 shares during the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.

About Herman Miller

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