Engineers Gate Manager LP decreased its position in Herman Miller, Inc. (NASDAQ:MLHR) by 34.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,747 shares of the business services provider’s stock after selling 11,106 shares during the period. Engineers Gate Manager LP’s holdings in Herman Miller were worth $703,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLHR. Quantbot Technologies LP purchased a new position in Herman Miller in the first quarter valued at $121,000. First Quadrant L P CA increased its holdings in Herman Miller by 1,965.7% in 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 in the last quarter. BerganKDV Wealth Management LLC purchased a new position in Herman Miller in the second quarter valued at $181,000. First Citizens Bank & Trust Co. purchased a new position in Herman Miller in the second quarter valued at $217,000. Finally, Neuberger Berman Group LLC increased its holdings in Herman Miller by 81.9% in 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 in the last quarter. 81.38% of the stock is owned by institutional investors.
In other news, CEO Brian C. Walker sold 18,000 shares of Herman Miller 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 owns 2,701 shares in the company, valued at $103,961.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Lock sold 53,802 shares of Herman Miller stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $38.00, for a total transaction of $2,044,476.00. Following the completion of the sale, the insider now owns 22,668 shares in the company, valued at approximately $861,384. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,807 shares of company stock worth $10,258,904. Company insiders own 1.91% of the company’s stock.
MLHR has been the subject of a number of recent analyst reports. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. BidaskClub upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th.
Shares of NASDAQ MLHR opened at $37.30 on Friday. Herman Miller, Inc. has a 52-week low of $29.95 and a 52-week high of $41.85. The stock has a market capitalization of $2.27 billion, a PE ratio of 16.22 and a beta of 1.46. The company has a current ratio of 1.56, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Monday, July 2nd. The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.08. Herman Miller had a net margin of 5.38% and a return on equity of 21.71%. The business had revenue of $618.00 million for the quarter, compared to analyst estimates of $601.10 million. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. research analysts predict that Herman Miller, Inc. will post 2.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Saturday, September 1st will be given a $0.198 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, August 30th. This represents a $0.79 annualized dividend and a dividend yield of 2.12%. Herman Miller’s dividend payout ratio (DPR) is 31.30%.
Herman Miller 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.
Further Reading: Market Capitalization
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