Herman Miller, Inc. (MLHR) Shares Bought by Forward Management LLC
Forward Management LLC raised its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,938 shares of the business services provider’s stock after buying an additional 315 shares during the period. Forward Management LLC’s holdings in Herman Miller were worth $151,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLHR. BlackRock Inc. raised its stake in shares of Herman Miller by 22,901.9% in the first 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 during the last quarter. Vanguard Group Inc. raised its stake in shares of Herman Miller by 1.4% in the first 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 during the last quarter. JPMorgan Chase & Co. raised 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. State Street Corp raised its stake in shares of Herman Miller by 0.8% in the first 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 during the last quarter. Finally, LSV Asset Management raised 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. 84.67% of the stock is owned by institutional investors and hedge funds.
Shares of Herman Miller, Inc. (NASDAQ:MLHR) opened at 32.80 on Friday. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 16.00 and a beta of 1.45. Herman Miller, Inc. has a 12 month low of $26.99 and a 12 month high of $36.46. The company has a 50-day moving average price of $32.81 and a 200-day moving average price of $31.79.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, July 5th. The business services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. The firm had revenue of $577.20 million during the quarter, compared to the consensus estimate of $583.53 million. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. Equities analysts forecast that Herman Miller, Inc. will post $2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be given a $0.18 dividend. The ex-dividend date is Wednesday, August 30th. This is an increase from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 2.20%. Herman Miller’s dividend payout ratio (DPR) is currently 33.17%.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, July 11th. Sidoti assumed coverage on Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Herman Miller currently has an average rating of “Hold” and a consensus price target of $38.00.
In other Herman Miller news, SVP Hezron T. Lopez sold 2,312 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $33.96, for a total value of $78,515.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Lock sold 19,247 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $33.47, for a total value of $644,197.09. Following the completion of the transaction, the insider now owns 24,354 shares of the company’s stock, valued at $815,128.38. The disclosure for this sale can be found here. Insiders sold 109,535 shares of company stock valued at $3,678,089 over the last quarter. Corporate insiders own 1.91% of the company’s stock.
About Herman Miller
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