Herman Miller, Inc. (NASDAQ:MLHR) SVP Stephen C. Gane sold 10,686 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.01, for a total transaction of $384,802.86. Following the completion of the transaction, the senior vice president now owns 21,985 shares of the company’s stock, valued at $791,679.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Herman Miller, Inc. (MLHR) opened at 36.50 on Tuesday. Herman Miller, Inc. has a 52-week low of $26.99 and a 52-week high of $37.00. The firm has a market cap of $2.18 billion, a PE ratio of 18.25 and a beta of 1.46. The stock has a 50 day moving average price of $33.97 and a 200-day moving average price of $32.62.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The company had revenue of $580.30 million for the quarter, compared to the consensus estimate 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 firm posted $0.60 EPS. On average, equities analysts anticipate that Herman Miller, Inc. will post $2.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.97%. This is an increase from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s payout ratio is 36.00%.

WARNING: “Herman Miller, Inc. (MLHR) SVP Stephen C. Gane Sells 10,686 Shares of Stock” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.watchlistnews.com/herman-miller-inc-mlhr-svp-stephen-c-gane-sells-10686-shares-of-stock/1604576.html.

A number of research firms have recently weighed in 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, July 11th. Sidoti assumed coverage on shares of Herman Miller in a research note on Tuesday, June 27th. They set a “buy” rating and a $38.00 price objective for the company. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $38.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLHR. Meadow Creek Investment Management LLC lifted its stake in Herman Miller by 5.1% during the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after purchasing an additional 168 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in 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 valued at $112,000 after purchasing an additional 1,494 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in 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 valued at $123,000 after purchasing an additional 181 shares in the last quarter. First Bank & Trust boosted its holdings in Herman Miller by 4.1% in the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 158 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Herman Miller by 0.6% in the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.

About Herman Miller

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

Receive News & Ratings for Herman Miller Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.