Victory Capital Management Inc. raised its stake in Herman Miller Inc. (NASDAQ:MLHR) by 17.6% during the second quarter, Holdings Channel reports. The institutional investor owned 15,347 shares of the company’s stock after buying an additional 2,297 shares during the period. Victory Capital Management Inc.’s holdings in Herman Miller were worth $459,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in Herman Miller by 77.0% in the second quarter. LS Investment Advisors LLC now owns 3,663 shares of the company’s stock valued at $109,000 after buying an additional 1,594 shares in the last quarter. National Investment Services Inc. WI acquired a new stake in Herman Miller during the second quarter valued at approximately $272,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Herman Miller during the second quarter valued at approximately $320,000. Quantbot Technologies LP boosted its stake in Herman Miller by 640.1% in the second quarter. Quantbot Technologies LP now owns 10,991 shares of the company’s stock valued at $328,000 after buying an additional 9,506 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in Herman Miller during the second quarter valued at approximately $338,000. 81.15% of the stock is owned by institutional investors and hedge funds.
Shares of Herman Miller Inc. (NASDAQ:MLHR) traded up 0.21% on Friday, reaching $28.60. The company’s stock had a trading volume of 482,179 shares. The company has a market cap of $1.71 billion, a P/E ratio of 12.43 and a beta of 1.41. The company’s 50 day moving average price is $33.76 and its 200 day moving average price is $31.73. Herman Miller Inc. has a 12-month low of $22.60 and a 12-month high of $36.46.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, September 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.02. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The company earned $598.60 million during the quarter. During the same period in the previous year, the business posted $0.56 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. Analysts forecast that Herman Miller Inc. will post $2.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Saturday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, August 31st. This is an increase from Herman Miller’s previous quarterly dividend of $0.15. Herman Miller’s payout ratio is currently 29.57%.
Several brokerages have issued reports on MLHR. BB&T Corp. lowered Herman Miller from a “buy” rating to a “hold” rating in a report on Friday, June 24th. They noted that the move was a valuation call. Zacks Investment Research lowered Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday.
In other Herman Miller news, CEO Brian C. Walker sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $33.69, for a total transaction of $269,520.00. Following the transaction, the chief executive officer now owns 179,299 shares in the company, valued at approximately $6,040,583.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael F. Ramirez sold 2,676 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $31.00, for a total value of $82,956.00. Following the transaction, the senior vice president now owns 13,580 shares in the company, valued at approximately $420,980. The disclosure for this sale can be found here. Corporate insiders own 1.91% of the company’s stock.
Herman Miller Company Profile
Herman Miller, Inc, researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. It operates in three segments: North American Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products for work-related settings, including office, education, and healthcare environments, throughout the United States and Canada; ELA Furniture Solutions, which includes EMEA, Latin America, and Asia-Pacific.
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