ING Groep NV boosted its holdings in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 23.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,020 shares of the business services provider’s stock after buying an additional 1,696 shares during the quarter. ING Groep NV’s holdings in Herman Miller were worth $361,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. LSV Asset Management lifted its holdings in Herman Miller by 8.1% during the 4th quarter. LSV Asset Management now owns 2,341,157 shares of the business services provider’s stock worth $93,763,000 after buying an additional 174,996 shares in the last quarter. State Street Corp lifted its holdings in Herman Miller by 3.5% during the 2nd quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock worth $61,971,000 after buying an additional 68,974 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Herman Miller by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,603,814 shares of the business services provider’s stock worth $57,576,000 after buying an additional 40,467 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Herman Miller by 31.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock worth $55,871,000 after buying an additional 375,520 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Herman Miller by 0.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,424,530 shares of the business services provider’s stock worth $51,141,000 after buying an additional 8,147 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.
In other news, CEO Brian C. Walker sold 90,003 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $36.27, for a total value of $3,264,408.81. Following the sale, the chief executive officer now directly owns 226,389 shares in the company, valued at approximately $8,211,129.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kevin J. Veltman sold 1,190 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total transaction of $47,933.20. The disclosure for this sale can be found here. Insiders sold a total of 142,202 shares of company stock worth $5,364,155 over the last 90 days. Company insiders own 1.91% of the company’s stock.
A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Zacks Investment Research lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Finally, Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Tuesday, December 26th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $41.67.
Shares of Herman Miller, Inc. (NASDAQ MLHR) opened at $37.25 on Tuesday. Herman Miller, Inc. has a fifty-two week low of $28.55 and a fifty-two week high of $41.85. The firm has a market cap of $2,222.72, a price-to-earnings ratio of 17.17 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 0.89.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The business had revenue of $604.60 million for the quarter, compared to analyst estimates of $603.77 million. During the same period last year, the business earned $0.54 EPS. The company’s revenue was up 4.7% on a year-over-year basis. sell-side analysts anticipate that Herman Miller, Inc. will post 2.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Saturday, March 3rd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.93%. Herman Miller’s payout ratio is 35.64%.
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Herman Miller Company Profile
Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.
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