Acadian Asset Management LLC raised its stake in Herman Miller, Inc. (NASDAQ:MLHR) by 95.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 74,381 shares of the business services provider’s stock after buying an additional 36,247 shares during the quarter. Acadian Asset Management LLC’s holdings in Herman Miller were worth $2,855,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mutual of America Capital Management LLC raised its holdings in Herman Miller by 2.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 51,194 shares of the business services provider’s stock valued at $1,735,000 after acquiring an additional 1,390 shares in the last quarter. NumerixS Investment Technologies Inc raised its holdings in Herman Miller by 17.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,600 shares of the business services provider’s stock valued at $325,000 after acquiring an additional 1,400 shares in the last quarter. Vident Investment Advisory LLC raised its holdings in Herman Miller by 1.9% in the 2nd quarter. Vident Investment Advisory LLC now owns 100,275 shares of the business services provider’s stock valued at $3,399,000 after acquiring an additional 1,853 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in Herman Miller by 3.2% in the 2nd quarter. MetLife Investment Advisors LLC now owns 64,724 shares of the business services provider’s stock valued at $2,194,000 after acquiring an additional 1,989 shares in the last quarter. Finally, Strs Ohio raised its holdings in Herman Miller by 7.6% in the 2nd quarter. Strs Ohio now owns 35,500 shares of the business services provider’s stock valued at $1,203,000 after acquiring an additional 2,500 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.
In other Herman Miller news, insider Gregory J. Bylsma sold 28,533 shares of the company’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $38.25, for a total value of $1,091,387.25. Following the sale, the insider now owns 70,405 shares in the company, valued at approximately $2,692,991.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.05% of the company’s stock.
Several brokerages have weighed in on MLHR. Zacks Investment Research cut Herman Miller from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. BidaskClub lowered Herman Miller from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Finally, ValuEngine lowered Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd.
Shares of MLHR opened at $33.66 on Friday. Herman Miller, Inc. has a 52-week low of $29.95 and a 52-week high of $41.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.42. The firm has a market capitalization of $2.03 billion, a PE ratio of 14.63 and a beta of 1.44.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. Herman Miller had a return on equity of 22.22% and a net margin of 5.40%. The company had revenue of $624.60 million for the quarter, compared to analyst estimates of $620.73 million. During the same quarter last year, the company posted $0.57 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts expect that Herman Miller, Inc. will post 2.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Saturday, December 1st will be given a dividend of $0.1975 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.79 dividend on an annualized basis and a yield of 2.35%. Herman Miller’s dividend payout ratio is currently 34.35%.
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Herman Miller Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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