Jane Street Group LLC Invests $275,000 in Herman Miller, Inc. (MLHR) Stock

Jane Street Group LLC acquired a new position in Herman Miller, Inc. (NASDAQ:MLHR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,663 shares of the business services provider’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also made changes to their positions in MLHR. Strs Ohio raised its holdings in Herman Miller by 6.2% during the 2nd quarter. Strs Ohio now owns 13,700 shares of the business services provider’s stock valued at $416,000 after buying an additional 800 shares during the last quarter. Sei Investments Co. raised its holdings in Herman Miller by 0.6% during the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after buying an additional 26 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Herman Miller by 6.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 368,745 shares of the business services provider’s stock valued at $11,210,000 after buying an additional 22,597 shares during the last quarter. Arizona State Retirement System raised its holdings in Herman Miller by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 25,200 shares of the business services provider’s stock valued at $766,000 after buying an additional 300 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Herman Miller by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 51,504 shares of the business services provider’s stock valued at $1,566,000 after buying an additional 1,391 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

In other news, SVP Stephen C. Gane sold 30,988 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $39.77, for a total value of $1,232,392.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian C. Walker sold 14,000 shares of the stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $35.38, for a total transaction of $495,320.00. Following the sale, the chief executive officer now directly owns 160,979 shares in the company, valued at $5,695,437.02. The disclosure for this sale can be found here. Insiders sold a total of 62,002 shares of company stock worth $2,307,612 over the last ninety days. Insiders own 1.91% of the company’s stock.

A number of equities research analysts recently commented on MLHR shares. Zacks Investment Research lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. BidaskClub upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price objective for the company in a report on Tuesday, December 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.67.

Shares of Herman Miller, Inc. (NASDAQ MLHR) traded down $0.35 during midday trading on Friday, reaching $40.55. 297,182 shares of the company’s stock traded hands, compared to its average volume of 474,560. The company has a quick ratio of 0.89, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. Herman Miller, Inc. has a 1-year low of $28.55 and a 1-year high of $40.90. The company has a market cap of $2,440.51, a price-to-earnings ratio of 20.07 and a beta of 1.48.

Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The firm had revenue of $604.60 million for the quarter, compared to the consensus estimate of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. research analysts expect that Herman Miller, Inc. will post 2.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Thursday, November 30th. Herman Miller’s dividend payout ratio is presently 35.64%.

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About Herman Miller

Institutional Ownership by Quarter for Herman Miller (NASDAQ:MLHR)

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