Invictus RG Purchases New Position in Herman Miller, Inc. (MLHR)
Invictus RG purchased a new stake in Herman Miller, Inc. (NASDAQ:MLHR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,136 shares of the business services provider’s stock, valued at approximately $773,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Herman Miller by 1.8% in the 3rd quarter. BlackRock Inc. now owns 7,057,456 shares of the business services provider’s stock valued at $271,007,000 after purchasing an additional 123,065 shares in the last quarter. LSV Asset Management boosted its stake in shares of Herman Miller by 2.5% in the 3rd quarter. LSV Asset Management now owns 2,792,976 shares of the business services provider’s stock valued at $107,250,000 after purchasing an additional 68,300 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Herman Miller by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,479,650 shares of the business services provider’s stock valued at $95,218,000 after purchasing an additional 69,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Herman Miller by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,830,749 shares of the business services provider’s stock valued at $62,063,000 after purchasing an additional 143,622 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Herman Miller by 4.4% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,411,834 shares of the business services provider’s stock valued at $54,214,000 after purchasing an additional 59,690 shares in the last quarter. Institutional investors own 82.07% of the company’s stock.
MLHR opened at $33.06 on Wednesday. Herman Miller, Inc. has a 1-year low of $29.95 and a 1-year high of $41.85. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.42. The company has a market capitalization of $2.01 billion, a PE ratio of 14.37 and a beta of 1.44.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Saturday, December 1st will be given a dividend of $0.1975 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.79 annualized dividend and a yield of 2.39%. Herman Miller’s dividend payout ratio is presently 34.35%.
In related news, insider Gregory J. Bylsma sold 28,533 shares of Herman Miller stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $38.25, for a total transaction of $1,091,387.25. Following the sale, the insider now directly owns 70,405 shares in the company, valued at approximately $2,692,991.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.05% of the stock is owned by company insiders.
MLHR has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Herman Miller from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, September 25th.
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Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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