Thomas Story & Son LLC bought a new stake in Herman Miller, Inc. (NASDAQ:MLHR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,300 shares of the business services provider’s stock, valued at approximately $220,000.
Other hedge funds have also recently made changes to their positions in the company. QV Investors Inc. acquired a new position in shares of Herman Miller during the 3rd quarter valued at about $44,000. FinTrust Capital Advisors LLC acquired a new position in shares of Herman Miller during the 2nd quarter valued at about $45,000. Advisor Group Holdings Inc. acquired a new stake in Herman Miller during the 1st quarter worth approximately $86,000. Caption Management LLC acquired a new stake in Herman Miller during the 2nd quarter worth approximately $106,000. Finally, State of Tennessee Treasury Department increased its position in Herman Miller by 20.3% during the 1st quarter. State of Tennessee Treasury Department now owns 6,171 shares of the business services provider’s stock worth $137,000 after purchasing an additional 1,042 shares in the last quarter. 80.71% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on MLHR shares. Benchmark increased their target price on shares of Herman Miller from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. BidaskClub raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Saturday, September 19th. Finally, Sidoti increased their target price on shares of Herman Miller from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, September 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.00.
NASDAQ MLHR traded down $0.96 on Monday, reaching $33.85. The company had a trading volume of 4,448 shares, compared to its average volume of 841,206. The firm has a market capitalization of $2.05 billion, a PE ratio of 139.24 and a beta of 1.45. Herman Miller, Inc. has a 1 year low of $14.39 and a 1 year high of $49.87. The firm has a 50-day moving average of $29.86 and a 200-day moving average of $24.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.59 and a quick ratio of 1.20.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, September 16th. The business services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.98. The firm had revenue of $626.80 million during the quarter, compared to analysts’ expectations of $529.05 million. Herman Miller had a return on equity of 22.89% and a net margin of 0.64%. Herman Miller’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Saturday, November 28th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, November 27th.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services worldwide. The company offers seating products under the Embody, Aeron, Mirra2, Setu, Sayl, Verus, Cosm, Lino, Verus, Celle, Equa, Taper, and Ergon names; and modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, Prospect, Overlay, and Resolve names.
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