South Dakota Investment Council continued to hold its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,000 shares of the business services provider’s stock at the end of the second quarter. South Dakota Investment Council owned approximately 0.09% of Herman Miller worth $1,702,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Herman Miller by 22,901.9% during the 1st quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock worth $192,154,000 after buying an additional 6,063,973 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Herman Miller by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,693,634 shares of the business services provider’s stock worth $179,635,000 after buying an additional 79,322 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Herman Miller by 9.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,733,007 shares of the business services provider’s stock worth $86,227,000 after buying an additional 244,532 shares in the last quarter. Royce & Associates LP lifted its position in shares of Herman Miller by 50.2% during the 2nd quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock worth $72,108,000 after buying an additional 793,188 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Herman Miller by 0.8% during the 1st quarter. State Street Corp now owns 1,969,526 shares of the business services provider’s stock worth $62,139,000 after buying an additional 15,704 shares in the last quarter. 84.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have commented 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 cut shares of Herman Miller from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Sidoti assumed coverage on shares of Herman Miller in a research note on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $38.00.
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In other Herman Miller news, insider Andrew J. Lock sold 22,491 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $33.48, for a total transaction of $752,998.68. Following the completion of the sale, the insider now directly owns 24,354 shares of the company’s stock, valued at $815,371.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Hezron T. Lopez sold 2,312 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $33.96, for a total transaction of $78,515.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,535 shares of company stock valued at $4,136,309. 1.91% of the stock is owned by corporate insiders.
Herman Miller, Inc. (MLHR) opened at 34.50 on Wednesday. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 16.83 and a beta of 1.44. Herman Miller, Inc. has a 1-year low of $26.99 and a 1-year high of $36.45. The company has a 50-day moving average of $33.34 and a 200-day moving average of $32.16.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.09. The company had revenue of $577.20 million for the quarter, compared to the consensus estimate of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Analysts anticipate that Herman Miller, Inc. will post $2.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be issued a dividend of $0.18 per share. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, August 30th. Herman Miller’s dividend payout ratio is currently 35.12%.
Herman Miller Profile
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