State of Wisconsin Investment Board decreased its holdings in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,069 shares of the business services provider’s stock after selling 3,400 shares during the period. State of Wisconsin Investment Board owned about 0.33% of Herman Miller worth $7,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Strs Ohio grew its position in shares of Herman Miller by 6.2% during the 2nd quarter. Strs Ohio now owns 13,700 shares of the business services provider’s stock valued at $416,000 after acquiring an additional 800 shares during the period. Prudential Financial Inc. grew its position in shares of Herman Miller by 20.8% during the 2nd quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock valued at $35,895,000 after acquiring an additional 202,970 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Herman Miller during the 2nd quarter valued at $1,231,000. California Public Employees Retirement System grew its position in shares of Herman Miller by 8.5% during the 2nd quarter. California Public Employees Retirement System now owns 127,300 shares of the business services provider’s stock valued at $3,870,000 after acquiring an additional 10,000 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Herman Miller by 8.8% during the 3rd quarter. First Trust Advisors LP now owns 56,032 shares of the business services provider’s stock valued at $2,012,000 after acquiring an additional 4,528 shares during the period. 82.40% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on MLHR. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research downgraded shares of Herman Miller from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.00.
In other Herman Miller news, CEO Brian C. Walker sold 14,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $34.80, for a total value of $487,200.00. Following the sale, the chief executive officer now owns 160,979 shares in the company, valued at approximately $5,602,069.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David O. Ulrich sold 13,382 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $32.38, for a total transaction of $433,309.16. Following the completion of the sale, the director now owns 21,949 shares in the company, valued at approximately $710,708.62. The disclosure for this sale can be found here. Insiders sold a total of 85,789 shares of company stock valued at $2,955,741 in the last ninety days. 1.91% of the stock is currently owned by insiders.
Shares of Herman Miller, Inc. (MLHR) traded down $0.05 during trading on Monday, reaching $34.50. 304,074 shares of the company traded hands, compared to its average volume of 386,191. The company has a market cap of $2,065.34, a P/E ratio of 16.15 and a beta of 1.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.30 and a quick ratio of 0.86. Herman Miller, Inc. has a one year low of $28.55 and a one year high of $37.00.
Herman Miller (NASDAQ:MLHR) last issued its earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The company 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 quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. 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. Investors of record on Saturday, December 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend payout ratio is currently 36.00%.
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