Asset Management One Co. Ltd. Raises Position in Herman Miller, Inc. (MLHR)

Asset Management One Co. Ltd. increased its stake in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 10.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,736 shares of the business services provider’s stock after buying an additional 1,050 shares during the period. Asset Management One Co. Ltd.’s holdings in Herman Miller were worth $339,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC raised its position in shares of Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock valued at $109,000 after buying an additional 168 shares in the last quarter. First Bank & Trust raised its position in shares of Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock valued at $121,000 after buying an additional 448 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock valued at $132,000 after buying an additional 204 shares in the last quarter. Forward Management LLC raised its position in shares of Herman Miller by 3.1% in the first quarter. Forward Management LLC now owns 4,623 shares of the business services provider’s stock valued at $146,000 after buying an additional 138 shares in the last quarter. Finally, Ronald Blue & Co. LLC raised its position in shares of Herman Miller by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 6,696 shares of the business services provider’s stock valued at $211,000 after buying an additional 294 shares in the last quarter. Institutional investors and hedge funds own 84.97% of the company’s stock.

Institutional Ownership by Quarter for Herman Miller (NASDAQ:MLHR)

Shares of Herman Miller, Inc. (MLHR) traded down 0.564% during trading on Tuesday, reaching $30.875. The company’s stock had a trading volume of 22,634 shares. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 14.228 and a beta of 1.40. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $36.46. The company has a 50-day moving average price of $32.27 and a 200-day moving average price of $31.93.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, March 22nd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. Herman Miller had a return on equity of 22.73% and a net margin of 5.75%. The firm had revenue of $524.90 million during the quarter, compared to analysts’ expectations of $530.50 million. During the same period last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Herman Miller, Inc. will post $2.08 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Saturday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, May 31st. Herman Miller’s payout ratio is 31.34%.

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Several brokerages have commented on MLHR. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Tuesday, March 28th. Raymond James Financial, Inc. raised Herman Miller from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Herman Miller has a consensus rating of “Hold” and an average target price of $35.00.

In related news, insider Andrew J. Lock sold 15,966 shares of the firm’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $32.05, for a total transaction of $511,710.30. Following the sale, the insider now directly owns 38,966 shares of the company’s stock, valued at $1,248,860.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald D. Goeman sold 10,011 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $33.85, for a total value of $338,872.35. Following the sale, the executive vice president now directly owns 12,973 shares in the company, valued at $439,136.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,107 shares of company stock valued at $1,224,525. Company insiders own 1.91% of the company’s stock.

Herman Miller Company Profile

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