Los Angeles Capital Management & Equity Research Inc. Buys 15,300 Shares of Herman Miller, Inc. (MLHR)
Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 78.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,707 shares of the business services provider’s stock after purchasing an additional 15,300 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.06% of Herman Miller worth $1,246,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of MLHR. Riverhead Capital Management LLC lifted its stake in shares of Herman Miller by 67.9% in the second 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. First Bank & Trust lifted its stake in shares of Herman Miller by 4.1% in the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock worth $121,000 after acquiring an additional 158 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after acquiring an additional 181 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Herman Miller by 0.6% in the second 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. Finally, LS Investment Advisors LLC lifted its stake in shares of Herman Miller by 17.5% in the second quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock worth $146,000 after acquiring an additional 714 shares in the last quarter. Institutional investors own 82.12% of the company’s stock.
Herman Miller, Inc. (NASDAQ MLHR) opened at $34.40 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.30 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2,056.36, a PE ratio of 16.07 and a beta of 1.46. Herman Miller, Inc. has a one year low of $28.55 and a one year high of $37.00.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The firm had revenue of $580.30 million during the quarter, compared to analyst estimates of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. Herman Miller’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. analysts forecast that Herman Miller, Inc. will post 2.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, November 30th. Herman Miller’s dividend payout ratio is currently 36.00%.
MLHR has been the topic of several recent analyst reports. Zacks Investment Research cut Herman Miller from a “hold” rating to a “sell” rating in a research note on Wednesday, November 22nd. ValuEngine cut Herman Miller from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Herman Miller currently has a consensus rating of “Hold” and a consensus price target of $38.00.
In related news, EVP Michael F. Ramirez sold 4,091 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $33.98, for a total value of $139,012.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $487,200.00. Following the completion of the sale, the chief executive officer now directly owns 160,979 shares of the company’s stock, valued at $5,602,069.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,789 shares of company stock valued at $2,955,741. 1.91% of the stock is owned by corporate insiders.
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Herman Miller Profile
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