Stone Ridge Asset Management LLC purchased a new stake in Herman Miller, Inc. (NASDAQ:MLHR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 35,890 shares of the business services provider’s stock, valued at approximately $1,437,000. Stone Ridge Asset Management LLC owned approximately 0.06% of Herman Miller at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of MLHR. Delpha Capital Management LLC acquired a new stake in shares of Herman Miller in the 4th quarter valued at approximately $160,000. Neuberger Berman Group LLC acquired a new stake in shares of Herman Miller in the 3rd quarter valued at approximately $211,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Herman Miller in the 4th quarter valued at approximately $213,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Herman Miller in the 4th quarter valued at approximately $222,000. Finally, Ifrah Financial Services Inc. acquired a new stake in shares of Herman Miller in the 4th quarter valued at approximately $224,000. Institutional investors own 82.72% of the company’s stock.
Shares of Herman Miller, Inc. (NASDAQ MLHR) opened at $37.55 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.89 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 $41.85. The company has a market cap of $2,234.65, a P/E ratio of 17.26 and a beta of 1.41.
Herman Miller (NASDAQ:MLHR) last posted its 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 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 the consensus estimate of $603.77 million. During the same period last year, the company earned $0.54 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. analysts predict that Herman Miller, Inc. will post 2.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Saturday, March 3rd will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.72 annualized dividend and a yield of 1.92%. Herman Miller’s dividend payout ratio is presently 35.64%.
In related news, CEO Brian C. Walker sold 125,000 shares of Herman Miller stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $37.98, for a total transaction of $4,747,500.00. Following the sale, the chief executive officer now directly owns 20,701 shares in the company, valued at approximately $786,223.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian C. Walker sold 90,003 shares of Herman Miller stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $36.27, for a total transaction of $3,264,408.81. Following the sale, the chief executive officer now owns 226,389 shares in the company, valued at $8,211,129.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,202 shares of company stock worth $10,111,655. 1.91% of the stock is owned by corporate insiders.
MLHR has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a research note on Wednesday, November 22nd. BidaskClub downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. 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 research report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Herman Miller has an average rating of “Hold” and a consensus price target of $41.67.
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About Herman Miller
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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