Principal Financial Group Inc. boosted its position in Herman Miller Inc. (NASDAQ:MLHR) by 6.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 597,142 shares of the company’s stock after buying an additional 33,886 shares during the period. Principal Financial Group Inc. owned about 1.00% of Herman Miller worth $17,849,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Herman Miller by 111.9% in the first quarter. Goldman Sachs Group Inc. now owns 666,159 shares of the company’s stock worth $20,578,000 after buying an additional 351,818 shares during the last quarter. UBS Group AG boosted its position in Herman Miller by 40.7% in the first quarter. UBS Group AG now owns 67,585 shares of the company’s stock worth $2,088,000 after buying an additional 19,549 shares during the last quarter. State Street Corp boosted its position in Herman Miller by 4.3% in the first quarter. State Street Corp now owns 1,984,155 shares of the company’s stock worth $61,288,000 after buying an additional 82,520 shares during the last quarter. Zebra Capital Management LLC boosted its position in Herman Miller by 26.3% in the first quarter. Zebra Capital Management LLC now owns 53,377 shares of the company’s stock worth $1,649,000 after buying an additional 11,107 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Herman Miller by 0.4% in the first quarter. M&T Bank Corp now owns 20,428 shares of the company’s stock worth $631,000 after buying an additional 83 shares during the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.
Herman Miller Inc. (NASDAQ:MLHR) traded up 0.948% during mid-day trading on Tuesday, reaching $28.205. 78,113 shares of the company traded hands. The stock has a 50 day moving average price of $33.61 and a 200-day moving average price of $31.76. The company has a market capitalization of $1.69 billion, a P/E ratio of 12.263 and a beta of 1.46. Herman Miller Inc. has a 52-week low of $22.60 and a 52-week high of $36.46.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Wednesday, September 21st. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by $0.02. Herman Miller had a return on equity of 26.03% and a net margin of 6.07%. The firm earned $598.60 million during the quarter. During the same quarter in the prior year, the company earned $0.56 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. Analysts expect that Herman Miller Inc. will post $2.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Saturday, September 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%. This is an increase from Herman Miller’s previous quarterly dividend of $0.15. Herman Miller’s dividend payout ratio is currently 29.57%.
A number of research firms have recently commented on MLHR. BB&T Corp. cut 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 cut shares of Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th.
In related news, SVP Michael F. Ramirez sold 2,676 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $31.00, for a total value of $82,956.00. Following the transaction, the senior vice president now owns 13,580 shares in the company, valued at $420,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian C. Walker sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $33.69, for a total value of $269,520.00. Following the completion of the transaction, the chief executive officer now owns 179,299 shares in the company, valued at approximately $6,040,583.31. The disclosure for this sale can be found here. 1.91% of the stock is owned by corporate 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.
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.