Fox Run Management L.L.C. Purchases Shares of 21,900 Herman Miller, Inc. (NASDAQ:MLHR)

Fox Run Management L.L.C. bought a new position in Herman Miller, Inc. (NASDAQ:MLHR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,900 shares of the business services provider’s stock, valued at approximately $786,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLHR. BlackRock Inc. raised its stake in shares of Herman Miller by 22,901.9% in the first quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock worth $192,154,000 after acquiring an additional 6,063,973 shares during the last quarter. Royce & Associates LP raised its stake in shares of Herman Miller by 50.2% in the second quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock worth $72,108,000 after acquiring an additional 793,188 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Herman Miller by 23.6% in the second quarter. Van Berkom & Associates Inc. now owns 1,543,957 shares of the business services provider’s stock worth $46,936,000 after acquiring an additional 294,356 shares during the last quarter. LSV Asset Management raised its stake in shares of Herman Miller by 15.1% in the second quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock worth $57,456,000 after acquiring an additional 247,300 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Herman Miller by 20.8% in the second quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock worth $35,895,000 after acquiring an additional 202,970 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

A number of brokerages have weighed in on MLHR. Zacks Investment Research downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.00.

In other Herman Miller news, EVP Michael F. Ramirez sold 4,091 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $33.98, for a total value of $139,012.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian C. Walker sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $32.73, for a total transaction of $458,220.00. Following the completion of the sale, the chief executive officer now directly owns 160,979 shares of the company’s stock, valued at approximately $5,268,842.67. The disclosure for this sale can be found here. Insiders sold 86,407 shares of company stock valued at $2,980,652 in the last ninety days. Insiders own 1.91% of the company’s stock.

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Herman Miller, Inc. (NASDAQ MLHR) traded up $0.35 on Friday, hitting $32.90. 251,500 shares of the company were exchanged, compared to its average volume of 393,636. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 1.30. The company has a market capitalization of $1,945.79, a P/E ratio of 15.21 and a beta of 1.46. Herman Miller, Inc. has a twelve month low of $28.55 and a twelve month high of $37.00.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The business had revenue of $580.30 million during the quarter, compared to the consensus estimate of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. Herman Miller’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. equities analysts anticipate that Herman Miller, Inc. will post 2.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Saturday, December 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s payout ratio is presently 36.00%.

Herman Miller Company Profile

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

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