Herman Miller Inc. (MLHR) Shares Bought by Teacher Retirement System of Texas
Teacher Retirement System of Texas raised its position in shares of Herman Miller Inc. (NASDAQ:MLHR) by 13.9% during the second quarter, Holdings Channel reports. The institutional investor owned 8,386 shares of the company’s stock after buying an additional 1,023 shares during the period. Teacher Retirement System of Texas’ holdings in Herman Miller were worth $251,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC increased its position in Herman Miller by 77.0% in the second quarter. LS Investment Advisors LLC now owns 3,663 shares of the company’s stock worth $109,000 after buying an additional 1,594 shares in the last quarter. Advance Capital I Inc. acquired a new position in Herman Miller during the second quarter worth about $209,000. National Investment Services Inc. WI acquired a new position in Herman Miller during the second quarter worth about $272,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Herman Miller during the second quarter worth about $320,000. Finally, Quantbot Technologies LP increased its position in Herman Miller by 640.1% in the second quarter. Quantbot Technologies LP now owns 10,991 shares of the company’s stock worth $328,000 after buying an additional 9,506 shares in the last quarter. Hedge funds and other institutional investors own 81.05% of the company’s stock.
Herman Miller Inc. (NASDAQ:MLHR) opened at 27.49 on Tuesday. The company’s 50 day moving average is $31.64 and its 200 day moving average is $31.56. Herman Miller Inc. has a one year low of $22.60 and a one year high of $36.46. The stock has a market cap of $1.65 billion, a PE ratio of 11.95 and a beta of 1.46.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.02. The business earned $598.60 million during the quarter. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. On average, equities research analysts expect that Herman Miller Inc. will post $2.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Saturday, September 3rd were issued a $0.17 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Herman Miller’s previous quarterly dividend of $0.15. Herman Miller’s payout ratio is 29.57%.
A number of research analysts have issued reports on the stock. Zacks Investment Research cut shares of Herman Miller from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. BB&T Corp. cut shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Friday, June 24th. They noted that the move was a valuation call.
In related news, CEO Brian C. Walker sold 25,951 shares of Herman Miller stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $32.85, for a total value of $852,490.35. Following the completion of the transaction, the chief executive officer now owns 200,434 shares in the company, valued at $6,584,256.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian C. Walker sold 8,000 shares of Herman Miller stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $33.69, for a total transaction of $269,520.00. Following the completion of the transaction, the chief executive officer now owns 179,299 shares of the company’s stock, valued at approximately $6,040,583.31. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by corporate insiders.
About Herman Miller
Herman Miller, Inc, researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. It operates in three segments: North American Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products for work-related settings, including office, education, and healthcare environments, throughout the United States and Canada; ELA Furniture Solutions, which includes EMEA, Latin America, and Asia-Pacific.
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