Mason Street Advisors LLC bought a new position in shares of Herman Miller Inc. (NASDAQ:MLHR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 27,293 shares of the company’s stock, valued at approximately $816,000.
Several other hedge funds have also made changes to their positions in MLHR. Vanguard Group Inc. raised its stake in shares of Herman Miller by 5.3% in the second quarter. Vanguard Group Inc. now owns 5,406,011 shares of the company’s stock worth $161,584,000 after buying an additional 270,797 shares during the period. BlackRock Fund Advisors raised its stake in shares of Herman Miller by 2.7% in the second quarter. BlackRock Fund Advisors now owns 2,982,990 shares of the company’s stock worth $89,162,000 after buying an additional 77,517 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Herman Miller by 4.1% in the second quarter. JPMorgan Chase & Co. now owns 2,125,319 shares of the company’s stock worth $63,526,000 after buying an additional 83,978 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Herman Miller by 2.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,115,078 shares of the company’s stock worth $63,220,000 after buying an additional 60,221 shares during the period. Finally, State Street Corp raised its stake in shares of Herman Miller by 1.3% in the second quarter. State Street Corp now owns 2,009,901 shares of the company’s stock worth $60,074,000 after buying an additional 25,746 shares during the period. Institutional investors own 81.15% of the company’s stock.
Herman Miller Inc. (NASDAQ:MLHR) opened at 28.54 on Friday. Herman Miller Inc. has a one year low of $22.60 and a one year high of $36.46. The company has a market cap of $1.71 billion, a PE ratio of 12.41 and a beta of 1.41. The firm’s 50-day moving average price is $33.90 and its 200-day moving average price is $31.73.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.62 by $0.02. The company earned $598.60 million during the quarter. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. On average, equities research analysts forecast that Herman Miller Inc. will post $2.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Saturday, September 3rd will be paid a $0.17 dividend. This is a boost from Herman Miller’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.38%. Herman Miller’s dividend payout ratio is presently 29.57%.
A number of brokerages recently commented on MLHR. Zacks Investment Research lowered Herman Miller from a “hold” rating to a “sell” rating in a research report on Wednesday. BB&T Corp. cut Herman Miller from a “buy” rating to a “hold” rating in a report on Friday, June 24th. They noted that the move was a valuation call.
In related news, SVP Michael F. Ramirez sold 2,676 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $31.00, for a total transaction of $82,956.00. Following the completion of the sale, the senior vice president now owns 13,580 shares of the company’s stock, valued at $420,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Lock sold 13,378 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $32.13, for a total value of $429,835.14. Following the sale, the insider now directly owns 37,613 shares of the company’s stock, valued at approximately $1,208,505.69. The disclosure for this sale can be found here. 1.91% of the stock is owned by insiders.
Herman Miller Company Profile
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.
Want to see what other hedge funds are holding MLHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Herman Miller Inc. (NASDAQ:MLHR).
Receive News & Ratings for Herman Miller Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller Inc. and related companies with MarketBeat.com's FREE daily email newsletter.