California State Teachers Retirement System reduced its position in Herman Miller, Inc. (NASDAQ:MLHR) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,560 shares of the business services provider’s stock after selling 10,184 shares during the quarter. California State Teachers Retirement System owned 0.16% of Herman Miller worth $3,431,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of MLHR. Riverhead Capital Management LLC raised its position in Herman Miller by 67.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after purchasing an additional 1,494 shares during the period. Sei Investments Co. raised its position in Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after purchasing an additional 26 shares during the period. Associated Banc Corp purchased a new stake in Herman Miller in the 3rd quarter worth about $252,000. Amalgamated Bank raised its position in Herman Miller by 4.1% in the 2nd quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock worth $260,000 after purchasing an additional 336 shares during the period. Finally, Ramsey Quantitative Systems bought a new position in Herman Miller in the 2nd quarter worth about $286,000. 82.59% of the stock is currently owned by institutional investors.
Shares of Herman Miller, Inc. (NASDAQ MLHR) traded down $0.10 during mid-day trading on Wednesday, reaching $40.50. 332,575 shares of the company’s stock were exchanged, compared to its average volume of 453,637. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 0.89. The company has a market cap of $2,420.00, a P/E ratio of 19.95 and a beta of 1.48. Herman Miller, Inc. has a twelve month low of $28.55 and a twelve month high of $41.85.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The firm had revenue of $604.60 million for the quarter, compared to the consensus estimate of $603.77 million. During the same period last year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. analysts expect that Herman Miller, Inc. will post 2.35 earnings per share for the current fiscal year.
In other news, VP Kevin J. Veltman sold 1,190 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total transaction of $47,933.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stephen C. Gane sold 30,988 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $39.77, for a total transaction of $1,232,392.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,580 shares of company stock worth $2,533,019. Insiders own 1.91% of the company’s stock.
MLHR has been the topic of a number of research analyst reports. 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 upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. BidaskClub upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research note on Tuesday, December 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.67.
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Herman Miller Company Profile
Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.
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