BlackRock Advisors LLC boosted its position in Herman Miller Inc. (NASDAQ:MLHR) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 264,681 shares of the company’s stock after buying an additional 2,640 shares during the period. BlackRock Advisors LLC owned about 0.44% of Herman Miller worth $7,911,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of MLHR. LS Investment Advisors LLC increased its position 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 during the period. Advance Capital I Inc. acquired a new position in Herman Miller during the second quarter valued at approximately $209,000. Teacher Retirement System of Texas increased its position in Herman Miller by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 8,386 shares of the company’s stock valued at $251,000 after buying an additional 1,023 shares during the period. National Investment Services Inc. WI acquired a new position in Herman Miller during the second quarter valued at approximately $272,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Herman Miller during the second quarter valued at approximately $320,000. Institutional investors and hedge funds own 81.15% of the company’s stock.
Shares of Herman Miller Inc. (NASDAQ:MLHR) opened at 27.70 on Wednesday. Herman Miller Inc. has a 52-week low of $22.60 and a 52-week high of $36.46. The company has a market cap of $1.66 billion, a PE ratio of 12.04 and a beta of 1.45. The company’s 50-day moving average is $32.59 and its 200 day moving average is $31.65.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, September 21st. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.02. Herman Miller had a return on equity of 26.03% and a net margin of 6.07%. The company earned $598.60 million during the quarter. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. On average, analysts anticipate that Herman Miller Inc. will post $2.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Saturday, September 3rd will be issued a dividend of $0.17 per share. This is an increase from Herman Miller’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, August 31st. Herman Miller’s dividend payout ratio is presently 29.57%.
Several research firms recently commented on MLHR. BB&T Corp. downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th.
In other news, SVP Jeffrey L. Kurburski sold 3,055 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $32.50, for a total transaction of $99,287.50. Following the transaction, the senior vice president now directly owns 13,471 shares of the company’s stock, valued at $437,807.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stephen C. Gane sold 5,936 shares of the company’s stock in a transaction on 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 in the company, valued at $711,015.75. The disclosure for this sale can be found here. 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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