Wells Fargo & Company MN lifted its stake in Herman Miller, Inc. (NASDAQ:MLHR) by 10.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,818 shares of the business services provider’s stock after buying an additional 21,174 shares during the quarter. Wells Fargo & Company MN owned approximately 0.37% of Herman Miller worth $7,892,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc boosted its position in Herman Miller by 5.9% during the third quarter. Legal & General Group Plc now owns 52,018 shares of the business services provider’s stock worth $1,867,000 after purchasing an additional 2,901 shares in the last quarter. American International Group Inc. boosted its position in Herman Miller by 2.8% during the third quarter. American International Group Inc. now owns 162,366 shares of the business services provider’s stock worth $5,829,000 after purchasing an additional 4,382 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Herman Miller by 0.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,424,530 shares of the business services provider’s stock worth $51,141,000 after purchasing an additional 8,147 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Herman Miller by 5.8% during the third quarter. Macquarie Group Ltd. now owns 60,400 shares of the business services provider’s stock valued at $2,169,000 after acquiring an additional 3,333 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Herman Miller by 9.5% during the third quarter. Ameriprise Financial Inc. now owns 277,697 shares of the business services provider’s stock valued at $9,969,000 after acquiring an additional 24,107 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.
A number of brokerages have commented on MLHR. BidaskClub cut Herman Miller from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Friday, December 29th. Raymond James Financial raised Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Tuesday, December 26th. Finally, ValuEngine raised Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Herman Miller has an average rating of “Buy” and a consensus price target of $41.67.
In other news, SVP Stephen C. Gane sold 30,988 shares of Herman Miller stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $39.77, for a total transaction of $1,232,392.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jeremy J. Hocking sold 2,442 shares of Herman Miller stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $40.40, for a total value of $98,656.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,002 shares of company stock valued at $2,307,612. 1.91% of the stock is currently owned by company insiders.
Shares of Herman Miller, Inc. (MLHR) opened at $40.55 on Friday. Herman Miller, Inc. has a one year low of $28.55 and a one year high of $40.90. The stock has a market capitalization of $2,420.00, a price-to-earnings ratio of 19.98 and a beta of 1.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The business had revenue of $604.60 million during the quarter, compared to analyst estimates of $603.77 million. During the same period last year, the business posted $0.54 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. equities analysts expect that Herman Miller, Inc. will post 2.35 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.78%. Herman Miller’s dividend payout ratio (DPR) is presently 35.47%.
About Herman Miller
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