Herman Miller, Inc. (MLHR) Position Lifted by Stone Ridge Asset Management LLC
Stone Ridge Asset Management LLC increased its position in Herman Miller, Inc. (NASDAQ:MLHR) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,945 shares of the business services provider’s stock after acquiring an additional 6,055 shares during the quarter. Stone Ridge Asset Management LLC owned about 0.07% of Herman Miller worth $1,269,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Advisor Group Inc. boosted its position in Herman Miller by 61.2% in the fourth quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock valued at $40,000 after buying an additional 499 shares in the last quarter. Bremer Trust National Association bought a new stake in Herman Miller in the fourth quarter valued at approximately $50,000. First Bank & Trust increased its stake in Herman Miller by 10.6% in the fourth quarter. First Bank & Trust now owns 4,156 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 399 shares in the last quarter. Dupont Capital Management Corp acquired a new position in shares of Herman Miller in the fourth quarter valued at approximately $165,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Herman Miller in the fourth quarter valued at approximately $192,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.
Shares of MLHR traded up $0.53 during trading hours on Thursday, hitting $35.59. The company had a trading volume of 5,410 shares, compared to its average volume of 380,516. The firm has a market capitalization of $2.10 billion, a PE ratio of 15.52 and a beta of 1.49. Herman Miller, Inc. has a 12 month low of $28.66 and a 12 month high of $40.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.41 and a quick ratio of 0.99.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be issued a dividend of $0.1975 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.79 annualized dividend and a yield of 2.22%. Herman Miller’s payout ratio is 34.35%.
A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, December 26th. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, Raymond James dropped their price objective on shares of Herman Miller from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 21st.
In other news, Director Douglas D. French sold 3,800 shares of Herman Miller stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $33.06, for a total value of $125,628.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.05% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2019/03/21/herman-miller-inc-mlhr-position-lifted-by-stone-ridge-asset-management-llc.html.
Herman Miller Profile
Herman Miller, Inc engages in the provision of furnishings and related technologies and services. It operates through the following segments: North American Furniture Solutions, ELA Furniture Solutions, Specialty, Consumer, and Corporate. The North American Furniture Solutions segment involves in the design, manufacture, and sale of furniture products for work-related settings such as office, education, and healthcare environments.
Featured Story: The mechanics of the bid-ask spread in trading
Want to see what other hedge funds are holding MLHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Herman Miller, Inc. (NASDAQ:MLHR).
Receive News & Ratings for Herman Miller Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller and related companies with MarketBeat.com's FREE daily email newsletter.