Wells Fargo & Company MN raised its holdings in Herman Miller (NASDAQ:MLHR) by 11.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,237 shares of the business services provider’s stock after acquiring an additional 25,419 shares during the period. Wells Fargo & Company MN owned approximately 0.41% of Herman Miller worth $9,822,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MLHR. First Trust Advisors LP raised its holdings in shares of Herman Miller by 8.8% in the 3rd quarter. First Trust Advisors LP now owns 56,032 shares of the business services provider’s stock valued at $2,012,000 after acquiring an additional 4,528 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Herman Miller by 27.2% in the 3rd quarter. Victory Capital Management Inc. now owns 22,530 shares of the business services provider’s stock valued at $809,000 after acquiring an additional 4,817 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Herman Miller by 78.8% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 34,707 shares of the business services provider’s stock valued at $1,246,000 after buying an additional 15,300 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Herman Miller by 9.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 277,697 shares of the business services provider’s stock valued at $9,969,000 after buying an additional 24,107 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Herman Miller by 5.8% during the 3rd quarter. Macquarie Group Ltd. now owns 60,400 shares of the business services provider’s stock valued at $2,169,000 after buying an additional 3,333 shares in the last quarter. 82.62% of the stock is currently owned by hedge funds and other institutional investors.

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Herman Miller stock opened at $37.33 on Thursday. The firm has a market capitalization of $2,237.64, a PE ratio of 17.28 and a beta of 1.41. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Herman Miller has a 1-year low of $28.85 and a 1-year high of $41.85.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, March 21st. The business services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $578.40 million for the quarter, compared to analysts’ expectations of $573.30 million. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. Herman Miller’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.39 EPS. research analysts anticipate that Herman Miller will post 2.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Saturday, March 3rd will be paid a $0.18 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.93%. Herman Miller’s dividend payout ratio (DPR) is currently 35.64%.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. ValuEngine raised Herman Miller from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub cut Herman Miller from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Raymond James Financial raised Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.67.

In other Herman Miller news, VP Kevin J. Veltman sold 1,190 shares of Herman Miller stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total value of $47,933.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Stephen C. Gane sold 8,601 shares of Herman Miller stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $41.00, for a total value of $352,641.00. Following the completion of the transaction, the senior vice president now directly owns 11,366 shares in the company, valued at $466,006. The disclosure for this sale can be found here. Insiders sold a total of 267,202 shares of company stock worth $10,111,655 over the last ninety days. Insiders own 1.91% of the company’s stock.

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Herman Miller Profile

Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.

Institutional Ownership by Quarter for Herman Miller (NASDAQ:MLHR)

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