Netols Asset Management Inc. lowered its stake in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 39.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,235 shares of the business services provider’s stock after selling 74,640 shares during the period. Netols Asset Management Inc. owned approximately 0.19% of Herman Miller worth $3,667,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MLHR. Dimensional Fund Advisors LP raised its stake in Herman Miller by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,505,587 shares of the business services provider’s stock valued at $51,492,000 after buying an additional 59,254 shares in the last quarter. Allianz Asset Management AG raised its stake in Herman Miller by 253.0% in the fourth quarter. Allianz Asset Management AG now owns 39,454 shares of the business services provider’s stock valued at $1,349,000 after buying an additional 28,278 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Herman Miller during the fourth quarter valued at approximately $819,000. GSA Capital Partners LLP raised its stake in Herman Miller by 48.9% in the fourth quarter. GSA Capital Partners LLP now owns 52,700 shares of the business services provider’s stock valued at $1,802,000 after buying an additional 17,300 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Herman Miller by 2.5% in the third quarter. Ameriprise Financial Inc. now owns 176,922 shares of the business services provider’s stock valued at $5,049,000 after buying an additional 4,302 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.
Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded up 0.63% during midday trading on Friday, hitting $31.80. 888,856 shares of the company traded hands. The stock’s 50-day moving average is $32.30 and its 200 day moving average is $31.85. The stock has a market capitalization of $1.90 billion, a P/E ratio of 14.65 and a beta of 1.45. Herman Miller, Inc. has a 12-month low of $26.99 and a 12-month high of $36.46.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, March 22nd. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Herman Miller had a net margin of 5.95% and a return on equity of 24.45%. The company had revenue of $524.90 million during the quarter, compared to analysts’ expectations of $530.50 million. During the same quarter in the previous year, the company earned $0.46 EPS. Herman Miller’s revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Herman Miller, Inc. will post $2.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Saturday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, May 31st. Herman Miller’s dividend payout ratio is currently 30.09%.
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MLHR has been the subject of several recent research reports. Zacks Investment Research raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Wednesday, March 8th. Raymond James Financial, Inc. upgraded shares of Herman Miller from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $35.00.
In related news, insider Bruce Benedict Watson sold 8,925 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $33.85, for a total transaction of $302,111.25. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at $198,496.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald D. Goeman sold 10,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $33.85, for a total transaction of $338,872.35. Following the transaction, the executive vice president now owns 12,973 shares of the company’s stock, valued at approximately $439,136.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,107 shares of company stock valued at $1,224,525. Corporate insiders own 1.91% of the company’s stock.
Herman Miller Company Profile
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