National Investment Services Inc. WI Buys New Stake in Herman Miller Inc. (MLHR)
National Investment Services Inc. WI bought a new stake in shares of Herman Miller Inc. (NASDAQ:MLHR) during the second quarter, Holdings Channel reports. The fund bought 9,101 shares of the company’s stock, valued at approximately $272,000.
Other large investors also recently added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in Herman Miller by 77.0% in the second quarter. LS Investment Advisors LLC now owns 3,663 shares of the company’s stock valued at $109,000 after buying an additional 1,594 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in Herman Miller during the first quarter valued at $272,000. Parametrica Management Ltd bought a new stake in Herman Miller during the first quarter valued at $468,000. Legal & General Group Plc boosted its stake in Herman Miller by 16.5% in the first quarter. Legal & General Group Plc now owns 15,577 shares of the company’s stock valued at $480,000 after buying an additional 2,210 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Herman Miller by 0.4% in the first quarter. M&T Bank Corp now owns 20,428 shares of the company’s stock valued at $631,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.
Herman Miller Inc. (NASDAQ:MLHR) traded up 0.97% on Monday, reaching $35.26. 256,971 shares of the company traded hands. Herman Miller Inc. has a 52-week low of $22.60 and a 52-week high of $36.46. The firm has a market cap of $2.11 billion, a P/E ratio of 15.60 and a beta of 1.41. The stock has a 50-day moving average price of $34.57 and a 200-day moving average price of $31.66.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, June 22nd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The firm earned $582.60 million during the quarter, compared to the consensus estimate of $568.55 million. Herman Miller had a net margin of 6.04% and a return on equity of 26.76%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. Analysts anticipate that Herman Miller Inc. will post $2.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Saturday, September 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.93%. This is an increase from Herman Miller’s previous quarterly dividend of $0.15. Herman Miller’s payout ratio is currently 30.09%.
Several research firms recently weighed in on MLHR. Zacks Investment Research lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. BB&T Corp. lowered 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.
In other Herman Miller news, CEO Brian C. Walker sold 25,951 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $32.85, for a total value of $852,490.35. Following the completion of the sale, the chief executive officer now owns 200,434 shares of the company’s stock, valued at approximately $6,584,256.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian C. Walker sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $33.69, for a total transaction of $269,520.00. Following the completion of the sale, the chief executive officer now directly owns 179,299 shares of the company’s stock, valued at approximately $6,040,583.31. 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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