Herman Miller, Inc. (MLHR) Shares Bought by LSV Asset Management
LSV Asset Management boosted its position in Herman Miller, Inc. (NASDAQ:MLHR) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,890,008 shares of the business services provider’s stock after buying an additional 247,300 shares during the quarter. LSV Asset Management owned approximately 3.16% of Herman Miller worth $57,456,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of MLHR. Louisiana State Employees Retirement System grew its stake in Herman Miller by 2.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the business services provider’s stock valued at $476,000 after buying an additional 300 shares during the last quarter. Glen Harbor Capital Management LLC grew its stake in Herman Miller by 5.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock valued at $132,000 after buying an additional 204 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Herman Miller by 1.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 20,987 shares of the business services provider’s stock valued at $662,000 after buying an additional 300 shares during the last quarter. Wells Fargo & Company MN grew its stake in Herman Miller by 4.1% in the 1st quarter. Wells Fargo & Company MN now owns 195,752 shares of the business services provider’s stock valued at $6,177,000 after buying an additional 7,627 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Herman Miller by 3.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 35,223 shares of the business services provider’s stock valued at $1,111,000 after buying an additional 1,274 shares during the last quarter. Institutional investors and hedge funds own 84.10% of the company’s stock.
In other Herman Miller news, SVP Hezron T. Lopez sold 2,312 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $33.96, for a total value of $78,515.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew J. Lock sold 22,491 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $33.48, for a total transaction of $752,998.68. Following the completion of the transaction, the insider now owns 24,354 shares in the company, valued at $815,371.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,535 shares of company stock worth $4,136,309. Corporate insiders own 1.91% of the company’s stock.
Shares of Herman Miller, Inc. (NASDAQ:MLHR) opened at 33.45 on Friday. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 16.32 and a beta of 1.44. The firm has a 50-day moving average of $33.33 and a 200 day moving average of $32.11. Herman Miller, Inc. has a 52-week low of $26.99 and a 52-week high of $36.45.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Wednesday, July 5th. The business services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The firm had revenue of $577.20 million for the quarter, compared to the consensus estimate of $583.53 million. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. Analysts predict that Herman Miller, Inc. will post $2.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be issued a $0.18 dividend. This is an increase from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, August 30th. Herman Miller’s payout ratio is currently 35.12%.
A number of research analysts recently issued reports on MLHR shares. Zacks Investment Research lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Sidoti started coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $38.00.
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About Herman Miller
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