Boston Partners bought a new stake in Herman Miller, Inc. (NASDAQ:MLHR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,500 shares of the business services provider’s stock, valued at approximately $521,000.
A number of other large investors also recently added to or reduced their stakes in the company. 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 in the last quarter. 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 in the last quarter. Wheatland Advisors Inc. acquired a new position in Herman Miller during the fourth quarter valued at $219,000. Cipher Capital LP acquired a new position in Herman Miller during the fourth quarter valued at $253,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Herman Miller by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,880 shares of the business services provider’s stock valued at $304,000 after buying an additional 28 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.
Herman Miller, Inc. (NASDAQ:MLHR) opened at 31.60 on Friday. The stock has a market cap of $1.89 billion, a PE ratio of 14.56 and a beta of 1.45. The stock has a 50 day moving average price of $32.33 and a 200 day moving average price of $31.97. Herman Miller, Inc. has a 1-year low of $26.99 and a 1-year high of $36.46.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, March 22nd. The business services provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.07. The firm had revenue of $524.90 million during the quarter, compared to analysts’ expectations of $530.50 million. Herman Miller had a return on equity of 24.45% and a net margin of 5.95%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. On average, analysts predict that Herman Miller, Inc. will post $2.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Saturday, June 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.15%. Herman Miller’s payout ratio is 30.09%.
Several research firms have recently weighed in on MLHR. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, March 28th. Raymond James Financial, Inc. upgraded Herman Miller from an “underperform” rating to a “market perform” rating in a research note on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.00.
In other news, EVP Donald D. Goeman sold 10,011 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $33.85, for a total value of $338,872.35. Following the completion of the sale, the executive vice president now owns 12,973 shares of the company’s stock, valued at approximately $439,136.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Lock sold 15,966 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $32.05, for a total value of $511,710.30. Following the completion of the sale, the insider now directly owns 38,966 shares of the company’s stock, valued at approximately $1,248,860.30. The disclosure for this sale can be found here. Insiders sold a total of 37,107 shares of company stock valued at $1,224,525 in the last three months. Insiders own 1.91% of the company’s stock.
Herman Miller Company Profile
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