Thrivent Financial for Lutherans grew its stake in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,096 shares of the business services provider’s stock after purchasing an additional 707 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Herman Miller were worth $457,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Advisor Group Inc. lifted its stake in shares of Herman Miller by 61.2% in the fourth quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock worth $40,000 after acquiring an additional 499 shares in the last quarter. Bremer Trust National Association acquired a new position in shares of Herman Miller in the fourth quarter worth about $50,000. First Bank & Trust lifted its stake in shares of Herman Miller by 10.6% in the fourth quarter. First Bank & Trust now owns 4,156 shares of the business services provider’s stock worth $126,000 after acquiring an additional 399 shares in the last quarter. Dupont Capital Management Corp acquired a new position in shares of Herman Miller in the fourth quarter worth about $165,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Herman Miller in the fourth quarter worth about $192,000. Institutional investors and hedge funds own 82.35% of the company’s stock.

Several research firms recently commented on MLHR. BidaskClub cut Herman Miller from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Wednesday, December 26th. Finally, Raymond James cut their price target on Herman Miller from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 21st.

In other Herman Miller news, Director Douglas D. French sold 3,800 shares of the company’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $33.06, for a total transaction of $125,628.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gregory J. Bylsma sold 9,048 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $34.98, for a total value of $316,499.04. Following the sale, the insider now owns 37,134 shares in the company, valued at approximately $1,298,947.32. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.

NASDAQ:MLHR opened at $37.00 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.01 and a current ratio of 1.48. Herman Miller, Inc. has a one year low of $28.66 and a one year high of $40.65. The stock has a market capitalization of $2.16 billion, a P/E ratio of 16.09 and a beta of 1.48.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, March 20th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Herman Miller had a return on equity of 23.88% and a net margin of 5.81%. The firm had revenue of $619.00 million for the quarter, compared to analysts’ expectations of $622.43 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Herman Miller’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Herman Miller, Inc. will post 2.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be paid a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, February 28th. Herman Miller’s payout ratio is currently 34.35%.

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Herman Miller Profile

Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.

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Institutional Ownership by Quarter for Herman Miller (NASDAQ:MLHR)

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