Herman Miller, Inc. (MLHR) Shares Bought by Nationwide Fund Advisors
Nationwide Fund Advisors boosted its stake in Herman Miller, Inc. (NASDAQ:MLHR) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 457,929 shares of the business services provider’s stock after buying an additional 1,219 shares during the period. Nationwide Fund Advisors owned approximately 0.77% of Herman Miller worth $13,921,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strs Ohio increased its stake in Herman Miller by 6.2% during the second quarter. Strs Ohio now owns 13,700 shares of the business services provider’s stock worth $416,000 after purchasing an additional 800 shares during the period. Prudential Financial Inc. increased its stake in Herman Miller by 20.8% during the second quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock worth $35,895,000 after purchasing an additional 202,970 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Herman Miller by 10.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 346,148 shares of the business services provider’s stock worth $10,921,000 after purchasing an additional 33,386 shares during the period. Tudor Investment Corp ET AL increased its stake in Herman Miller by 43.3% during the first quarter. Tudor Investment Corp ET AL now owns 25,593 shares of the business services provider’s stock worth $807,000 after purchasing an additional 7,733 shares during the period. Finally, Trillium Asset Management LLC purchased a new stake in Herman Miller during the second quarter worth about $2,584,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.
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A number of brokerages have issued reports on MLHR. Zacks Investment Research lowered shares of Herman Miller from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Sidoti began 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 on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $38.00.
In other news, SVP Hezron T. Lopez sold 2,312 shares of Herman Miller 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 document filed with the SEC, which is available through this link. Also, insider Gregory J. Bylsma sold 9,435 shares of Herman Miller stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $33.88, for a total value of $319,657.80. Following the completion of the transaction, the insider now directly owns 42,534 shares in the company, valued at $1,441,051.92. The disclosure for this sale can be found here. Insiders sold a total of 137,535 shares of company stock worth $4,623,509 over the last ninety days. Corporate insiders own 1.91% of the company’s stock.
Shares of Herman Miller, Inc. (NASDAQ MLHR) opened at 34.25 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.71 and a beta of 1.44. The firm’s 50-day moving average is $33.52 and its 200-day moving average is $32.35. Herman Miller, Inc. has a 52 week low of $26.99 and a 52 week high of $36.45.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. On average, equities research analysts anticipate that Herman Miller, Inc. will post $2.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Saturday, September 2nd will be paid a $0.18 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, August 30th. Herman Miller’s payout ratio is currently 36.00%.
Herman Miller Company Profile
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