UBS Asset Management Americas Inc. increased its position in shares of Herman Miller Inc. (NASDAQ:MLHR) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,764 shares of the company’s stock after buying an additional 718 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.05% of Herman Miller worth $979,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. LS Investment Advisors LLC increased its position in Herman Miller by 77.0% in the second quarter. LS Investment Advisors LLC now owns 3,663 shares of the company’s stock worth $109,000 after buying an additional 1,594 shares during the last quarter. National Investment Services Inc. WI acquired a new position in Herman Miller during the second quarter worth about $272,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Herman Miller during the second quarter worth about $320,000. Quantbot Technologies LP increased its position in Herman Miller by 640.1% in the second quarter. Quantbot Technologies LP now owns 10,991 shares of the company’s stock worth $328,000 after buying an additional 9,506 shares during the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in Herman Miller during the second quarter worth about $338,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.
Shares of Herman Miller Inc. (NASDAQ:MLHR) opened at 27.30 on Wednesday. The firm has a market cap of $1.64 billion, a PE ratio of 11.87 and a beta of 1.45. Herman Miller Inc. has a 12-month low of $22.60 and a 12-month high of $36.46. The company has a 50 day moving average of $31.39 and a 200-day moving average of $31.54.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.02. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The firm earned $598.60 million during the quarter. During the same quarter last year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities research analysts forecast that Herman Miller Inc. will post $2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Stockholders of record on Saturday, September 3rd were given a $0.17 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, August 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.49%. Herman Miller’s dividend payout ratio (DPR) is currently 29.57%.
A number of research firms have recently issued reports on MLHR. BB&T Corp. downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th.
In related news, CEO Brian C. Walker sold 8,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $33.69, for a total transaction of $269,520.00. Following the transaction, the chief executive officer now owns 179,299 shares of the company’s stock, valued at $6,040,583.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey L. Kurburski sold 3,055 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $32.50, for a total transaction of $99,287.50. Following the transaction, the senior vice president now directly owns 13,471 shares in the company, valued at approximately $437,807.50. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by insiders.
About Herman Miller
Herman Miller, Inc, researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. It operates in three segments: North American Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products for work-related settings, including office, education, and healthcare environments, throughout the United States and Canada; ELA Furniture Solutions, which includes EMEA, Latin America, and Asia-Pacific.
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