California Public Employees Retirement System Sells 2,600 Shares of Herman Miller Inc. (MLHR)
California Public Employees Retirement System lowered its stake in Herman Miller Inc. (NASDAQ:MLHR) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 151,300 shares of the company’s stock after selling 2,600 shares during the period. California Public Employees Retirement System owned 0.25% of Herman Miller worth $4,522,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of MLHR. M&T Bank Corp increased its stake in shares of 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 period. State Treasurer State of Michigan increased its stake in shares of Herman Miller by 0.4% in the second quarter. State Treasurer State of Michigan now owns 24,030 shares of the company’s stock worth $718,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Herman Miller by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 19,875 shares of the company’s stock worth $594,000 after buying an additional 485 shares during the period. Strs Ohio increased its stake in shares of Herman Miller by 1.6% in the second quarter. Strs Ohio now owns 37,200 shares of the company’s stock worth $1,111,000 after buying an additional 600 shares during the period. Finally, Algert Global LLC increased its stake in shares of Herman Miller by 1.4% in the first quarter. Algert Global LLC now owns 55,588 shares of the company’s stock worth $1,717,000 after buying an additional 788 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.
Herman Miller Inc. (NASDAQ:MLHR) traded down 0.60% during midday trading on Friday, reaching $34.92. The company’s stock had a trading volume of 363,417 shares. The firm has a market cap of $2.09 billion, a P/E ratio of 15.45 and a beta of 1.41. Herman Miller Inc. has a one year low of $22.60 and a one year high of $36.46. The firm has a 50 day moving average price of $34.32 and a 200 day moving average price of $31.43.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, June 22nd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Herman Miller had a net margin of 6.04% and a return on equity of 26.76%. The business earned $582.60 million during the quarter, compared to the consensus estimate of $568.55 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that Herman Miller Inc. will post $2.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Saturday, September 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, August 31st. This is an increase from Herman Miller’s previous quarterly dividend of $0.15. Herman Miller’s payout ratio is 30.09%.
A number of equities research analysts recently issued reports on MLHR shares. BB&T Corp. downgraded 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 Herman Miller from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th.
In other Herman Miller news, CEO Brian C. Walker sold 8,000 shares of Herman Miller stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $33.69, for a total value of $269,520.00. Following the completion of the sale, the chief executive officer now owns 179,299 shares of the company’s stock, valued at approximately $6,040,583.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dorothy A. Terrell sold 3,900 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $32.91, for a total transaction of $128,349.00. Following the sale, the director now directly owns 13,594 shares of the company’s stock, valued at approximately $447,378.54. The disclosure for this sale can be found here. 1.91% of the stock is currently owned by company 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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