Herman Miller, Inc. (MLHR) Position Raised by Teachers Advisors LLC
Teachers Advisors LLC raised its stake in Herman Miller, Inc. (NASDAQ:MLHR) by 8.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 102,923 shares of the business services provider’s stock after buying an additional 8,038 shares during the period. Teachers Advisors LLC owned about 0.17% of Herman Miller worth $3,247,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Forward Management LLC boosted its stake in shares of Herman Miller by 3.1% in the first quarter. Forward Management LLC now owns 4,623 shares of the business services provider’s stock valued at $146,000 after buying an additional 138 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of 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 period. State Treasurer State of Michigan boosted its stake in shares of Herman Miller by 0.8% in the first quarter. State Treasurer State of Michigan now owns 24,330 shares of the business services provider’s stock valued at $768,000 after buying an additional 200 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of 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 period. Finally, Advantus Capital Management Inc boosted its stake in shares of Herman Miller by 2.9% in the first quarter. Advantus Capital Management Inc now owns 7,670 shares of the business services provider’s stock valued at $242,000 after buying an additional 216 shares during the period. Hedge funds and other institutional investors own 84.67% of the company’s stock.
Shares of Herman Miller, Inc. (NASDAQ MLHR) traded up 0.61% during trading on Friday, reaching $32.80. The company had a trading volume of 401,428 shares. Herman Miller, Inc. has a 52-week low of $26.99 and a 52-week high of $36.46. The firm has a market capitalization of $1.96 billion, a P/E ratio of 16.00 and a beta of 1.45. The company has a 50 day moving average of $32.81 and a 200-day moving average of $31.79.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. The business had revenue of $577.20 million for the quarter, compared to analyst estimates of $583.53 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts expect 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. Shareholders of record on Saturday, September 2nd will be paid a $0.18 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.20%. Herman Miller’s dividend payout ratio is presently 33.17%.
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Several brokerages have commented on MLHR. Sidoti began coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target on the stock. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Herman Miller presently has an average rating of “Hold” and a consensus price target of $38.00.
In other Herman Miller news, SVP Hezron T. Lopez sold 2,312 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $33.96, for a total value of $78,515.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian C. Walker sold 56,050 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $33.59, for a total value of $1,882,719.50. Following the completion of the transaction, the chief executive officer now directly owns 164,929 shares in the company, valued at approximately $5,539,965.11. The disclosure for this sale can be found here. Insiders sold 109,535 shares of company stock worth $3,678,089 in the last three months. Insiders own 1.91% of the company’s stock.
About Herman Miller
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