Alps Advisors Inc. lowered its position in shares of Herman Miller Inc. (NASDAQ:MLHR) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 15,672 shares of the company’s stock after selling 890 shares during the period. Alps Advisors Inc.’s holdings in Herman Miller were worth $468,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Royce & Associates LP boosted its stake in Herman Miller by 95.9% in the first quarter. Royce & Associates LP now owns 1,124,590 shares of the company’s stock worth $34,739,000 after buying an additional 550,590 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Herman Miller by 111.9% in the first quarter. Goldman Sachs Group Inc. now owns 666,159 shares of the company’s stock worth $20,578,000 after buying an additional 351,818 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Herman Miller by 11.8% in the first quarter. JPMorgan Chase & Co. now owns 2,041,341 shares of the company’s stock worth $63,056,000 after buying an additional 215,670 shares in the last quarter. Skyline Asset Management LP boosted its stake in Herman Miller by 25.4% in the first quarter. Skyline Asset Management LP now owns 695,600 shares of the company’s stock worth $21,487,000 after buying an additional 141,100 shares in the last quarter. Finally, State Street Corp boosted its stake in Herman Miller by 4.3% in the first quarter. State Street Corp now owns 1,984,155 shares of the company’s stock worth $61,288,000 after buying an additional 82,520 shares in the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of Herman Miller Inc. (NASDAQ:MLHR) traded down 0.07% during midday trading on Wednesday, hitting $28.32. The stock had a trading volume of 945,209 shares. Herman Miller Inc. has a 52-week low of $22.60 and a 52-week high of $36.46. The stock has a market cap of $1.70 billion, a PE ratio of 12.31 and a beta of 1.45. The firm has a 50 day moving average price of $33.30 and a 200-day moving average price of $31.72.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.02. The company earned $598.60 million during the quarter. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 earnings per share. Equities analysts predict that Herman Miller Inc. will post $2.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Saturday, September 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This is a positive change from Herman Miller’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 2.40%. Herman Miller’s dividend payout ratio (DPR) is currently 29.57%.
MLHR has been the topic of a number of recent analyst reports. Zacks Investment Research cut Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. BB&T Corp. cut 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.
In related news, SVP Stephen C. Gane sold 5,936 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $32.25, for a total value of $191,436.00. Following the transaction, the senior vice president now directly owns 22,047 shares of the company’s stock, valued at approximately $711,015.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael F. Ramirez sold 2,676 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $31.00, for a total transaction of $82,956.00. Following the completion of the transaction, the senior vice president now directly owns 13,580 shares in the company, valued at $420,980. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.
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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