LSV Asset Management grew its holdings in Herman Miller, Inc. (NASDAQ:MLHR) by 8.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,724,676 shares of the business services provider’s stock after purchasing an additional 203,069 shares during the period. LSV Asset Management owned about 4.56% of Herman Miller worth $92,366,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Herman Miller in the first quarter worth $121,000. First Quadrant L P CA increased its stake in shares of Herman Miller by 1,965.7% during the second quarter. First Quadrant L P CA now owns 3,677 shares of the business services provider’s stock valued at $125,000 after buying an additional 3,499 shares during the period. BerganKDV Wealth Management LLC purchased a new position in shares of Herman Miller during the second quarter valued at $181,000. First Citizens Bank & Trust Co. purchased a new position in shares of Herman Miller during the second quarter valued at $217,000. Finally, Neuberger Berman Group LLC increased its stake in shares of Herman Miller by 81.9% during the first quarter. Neuberger Berman Group LLC now owns 10,335 shares of the business services provider’s stock valued at $330,000 after buying an additional 4,653 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.
In related news, insider Gregory J. Bylsma sold 9,285 shares of the firm’s stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $38.15, for a total transaction of $354,222.75. Following the sale, the insider now owns 33,249 shares of the company’s stock, valued at $1,268,449.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian C. Walker sold 18,000 shares of the firm’s stock in a transaction dated Friday, July 6th. The shares were sold at an average price of $38.49, for a total value of $692,820.00. Following the sale, the chief executive officer now directly owns 2,701 shares in the company, valued at approximately $103,961.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,807 shares of company stock worth $10,258,904. Insiders own 1.91% of the company’s stock.
MLHR has been the topic of several research reports. BidaskClub lowered Herman Miller from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th.
Shares of Herman Miller stock opened at $37.30 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of 16.22 and a beta of 1.46. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.56. Herman Miller, Inc. has a 12 month low of $29.95 and a 12 month high of $41.85.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Monday, July 2nd. The business services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.58 by $0.08. The firm had revenue of $618.00 million for the quarter, compared to analyst estimates of $601.10 million. Herman Miller had a return on equity of 21.71% and a net margin of 5.38%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. sell-side analysts predict that Herman Miller, Inc. will post 2.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Saturday, September 1st will be paid a dividend of $0.198 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.79 annualized dividend and a dividend yield of 2.12%. This is a positive change from Herman Miller’s previous quarterly dividend of $0.18. Herman Miller’s dividend payout ratio (DPR) is currently 31.30%.
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 in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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