Insider Selling: Herman Miller, Inc. (MLHR) SVP Sells 2,312 Shares of Stock

Herman Miller, Inc. (NASDAQ:MLHR) SVP Hezron T. Lopez sold 2,312 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $33.96, for a total transaction of $78,515.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) opened at 32.80 on Friday. The company has a market capitalization of $1.96 billion, a P/E ratio of 16.00 and a beta of 1.45. The stock’s 50 day moving average is $32.81 and its 200-day moving average is $31.79. Herman Miller, Inc. has a 12-month low of $26.99 and a 12-month high of $36.46.

Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The company had revenue of $577.20 million during the quarter, compared to analysts’ expectations of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. Herman Miller’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. Analysts anticipate that Herman Miller, Inc. will post $2.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.20%. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s dividend payout ratio (DPR) is presently 33.17%.

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Several research analysts have commented on MLHR shares. Zacks Investment Research downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Sidoti assumed coverage on shares of Herman Miller in a report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.00.

A number of institutional investors have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC boosted its position in 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 valued at $109,000 after buying an additional 168 shares during the last quarter. Riverhead Capital Management LLC boosted its position 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 buying an additional 1,494 shares during the last quarter. First Bank & Trust boosted its position in Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock valued at $121,000 after buying an additional 448 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position 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 buying an additional 181 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in 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 valued at $132,000 after buying an additional 204 shares during the last quarter. 84.67% of the stock is owned by institutional investors.

Herman Miller Company Profile

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

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