Vanguard Group Inc. Purchases 79,322 Shares of Herman Miller, Inc. (MLHR)
Vanguard Group Inc. raised its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,693,634 shares of the business services provider’s stock after buying an additional 79,322 shares during the period. Vanguard Group Inc. owned 0.10% of Herman Miller worth $179,635,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MLHR. Deprince Race & Zollo Inc. acquired a new stake in shares of Herman Miller during the first quarter worth approximately $36,396,000. Norges Bank acquired a new stake in shares of Herman Miller during the fourth quarter worth approximately $28,479,000. JPMorgan Chase & Co. increased its stake in shares of Herman Miller by 9.8% in the first 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 during the last quarter. LSV Asset Management increased its stake in shares of Herman Miller by 16.6% in the first quarter. LSV Asset Management now owns 1,642,708 shares of the business services provider’s stock worth $51,827,000 after buying an additional 234,133 shares during the last quarter. Finally, Royce & Associates LP increased its stake in shares of Herman Miller by 11.5% in the first quarter. Royce & Associates LP now owns 1,578,800 shares of the business services provider’s stock worth $49,811,000 after buying an additional 162,800 shares during the last quarter. 84.20% of the stock is owned by institutional investors.
Herman Miller, Inc. (NASDAQ MLHR) opened at 33.95 on Tuesday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 16.56 and a beta of 1.44. The firm’s 50-day moving average price is $31.54 and its 200 day moving average price is $31.76. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $36.46.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $577.20 million during the quarter, compared to analyst estimates of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 EPS. On average, equities research analysts expect that Herman Miller, Inc. will post $2.30 earnings per share for the current fiscal year.
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A number of analysts recently commented on MLHR shares. Raymond James Financial, Inc. raised Herman Miller from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 23rd. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday, March 28th. Sidoti started coverage on Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target for the company. Finally, UBS AG raised Herman Miller from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $38.00.
In other Herman Miller news, SVP Michael F. Ramirez sold 1,297 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $33.33, for a total transaction of $43,229.01. Following the completion of the sale, the senior vice president now directly owns 14,966 shares in the company, valued at approximately $498,816.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Andrew J. Lock sold 15,966 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $32.05, for a total transaction of $511,710.30. Following the sale, the insider now owns 38,966 shares of the company’s stock, valued at $1,248,860.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,937 shares of company stock valued at $2,593,119. Company insiders own 1.91% of the company’s stock.
Herman Miller Company Profile
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