Livforsakringsbolaget Skandia Omsesidigt lessened its holdings in Herman Miller, Inc. (NASDAQ:MLHR) by 17.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,100 shares of the business services provider’s stock after selling 3,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Herman Miller were worth $733,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Herman Miller in the second quarter valued at about $314,000. MetLife Investment Advisors LLC lifted its holdings in shares of Herman Miller by 3.2% in the second quarter. MetLife Investment Advisors LLC now owns 64,724 shares of the business services provider’s stock valued at $2,194,000 after purchasing an additional 1,989 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Herman Miller by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,830,749 shares of the business services provider’s stock valued at $62,063,000 after buying an additional 143,622 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Herman Miller by 14.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 537,119 shares of the business services provider’s stock valued at $18,209,000 after buying an additional 69,497 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Herman Miller by 63.2% in the second quarter. Wells Fargo & Company MN now owns 471,773 shares of the business services provider’s stock valued at $15,993,000 after buying an additional 182,769 shares during the last quarter. 83.14% of the stock is currently owned by institutional investors.
In other news, insider Gregory J. Bylsma sold 28,533 shares of the business’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $38.25, for a total value of $1,091,387.25. Following the completion of the transaction, the insider now owns 70,405 shares of the company’s stock, valued at $2,692,991.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.05% of the company’s stock.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, September 19th. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $624.60 million during the quarter, compared to analyst estimates of $620.73 million. Herman Miller had a net margin of 5.40% and a return on equity of 22.22%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. Research analysts anticipate that Herman Miller, Inc. will post 2.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Saturday, December 1st will be given a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, November 29th. Herman Miller’s dividend payout ratio is presently 34.35%.
A number of research firms have recently weighed in on MLHR. BidaskClub lowered shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, September 25th. Finally, ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th.
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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