Herman Miller, Inc. (MLHR) Position Reduced by Citadel Advisors LLC
Citadel Advisors LLC lessened its stake in Herman Miller, Inc. (NASDAQ:MLHR) by 62.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,437 shares of the business services provider’s stock after selling 15,470 shares during the quarter. Citadel Advisors LLC’s holdings in Herman Miller were worth $339,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverhead Capital Management LLC increased its holdings in Herman Miller by 67.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after acquiring an additional 1,494 shares in the last quarter. Sei Investments Co. increased its holdings in Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after acquiring an additional 26 shares in the last quarter. Trexquant Investment LP purchased a new stake in Herman Miller in the 2nd quarter worth $229,000. Great Lakes Advisors LLC purchased a new stake in Herman Miller in the 2nd quarter worth $240,000. Finally, Amalgamated Bank increased its holdings in Herman Miller by 4.1% in the 2nd quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock worth $260,000 after acquiring an additional 336 shares in the last quarter. 82.40% of the stock is owned by institutional investors.
Shares of Herman Miller, Inc. (NASDAQ MLHR) opened at $34.75 on Thursday. Herman Miller, Inc. has a one year low of $28.55 and a one year high of $37.00. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2,100.00, a price-to-earnings ratio of 16.26 and a beta of 1.48.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The company had revenue of $580.30 million for the quarter, compared to analysts’ expectations of $578.27 million. During the same quarter in the previous year, the company posted $0.60 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. sell-side analysts forecast that Herman Miller, Inc. will post 2.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Saturday, December 2nd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.72 annualized dividend and a yield of 2.07%. Herman Miller’s dividend payout ratio (DPR) is presently 36.18%.
Several brokerages have issued reports on MLHR. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Zacks Investment Research raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.00.
In other news, CEO Brian C. Walker sold 14,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $34.80, for a total transaction of $487,200.00. Following the transaction, the chief executive officer now owns 160,979 shares of the company’s stock, valued at approximately $5,602,069.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Hezron T. Lopez sold 5,353 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $34.85, for a total transaction of $186,552.05. Following the transaction, the senior vice president now directly owns 5,353 shares in the company, valued at approximately $186,552.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,789 shares of company stock worth $2,955,741. 1.91% of the stock is currently owned by corporate insiders.
About Herman Miller
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