Herman Miller (NASDAQ:MLHR) issued its quarterly earnings data on Wednesday. The business services provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.06, Briefing.com reports. The business had revenue of $670.90 million for the quarter, compared to the consensus estimate of $661.80 million. Herman Miller had a return on equity of 25.20% and a net margin of 6.25%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Herman Miller updated its Q2 2020 guidance to $0.85-0.89 EPS and its Q2 guidance to $0.85-0.89 EPS.
Shares of Herman Miller stock opened at $45.11 on Friday. The stock’s fifty day simple moving average is $43.07 and its 200 day simple moving average is $39.92. Herman Miller has a 12 month low of $28.66 and a 12 month high of $49.40. The company has a market capitalization of $2.63 billion, a PE ratio of 15.19 and a beta of 1.66. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Saturday, August 31st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.86%. The ex-dividend date is Thursday, August 29th. This is an increase from Herman Miller’s previous quarterly dividend of $0.20. Herman Miller’s dividend payout ratio (DPR) is presently 28.28%.
In other Herman Miller news, insider Bruce Benedict Watson sold 33,133 shares of Herman Miller stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $44.38, for a total value of $1,470,442.54. Following the sale, the insider now owns 28,140 shares of the company’s stock, valued at approximately $1,248,853.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey L. Kurburski sold 14,222 shares of Herman Miller stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $45.05, for a total value of $640,701.10. Following the completion of the sale, the senior vice president now directly owns 9,557 shares in the company, valued at approximately $430,542.85. The disclosure for this sale can be found here. Insiders sold a total of 96,601 shares of company stock worth $4,329,094 in the last three months. Company insiders own 0.91% of the company’s stock.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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