Municipal Employees Retirement System of Michigan lessened its holdings in Herman Miller, Inc. (NASDAQ:MLHR) by 22.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,970 shares of the business services provider’s stock after selling 4,120 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Herman Miller were worth $474,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. increased its position in Herman Miller by 7.8% during the first quarter. Meeder Asset Management Inc. now owns 25,808 shares of the business services provider’s stock valued at $825,000 after acquiring an additional 1,864 shares during the last quarter. SG Americas Securities LLC increased its position in Herman Miller by 9.8% during the first quarter. SG Americas Securities LLC now owns 34,205 shares of the business services provider’s stock valued at $1,093,000 after acquiring an additional 3,067 shares during the last quarter. Quantbot Technologies LP bought a new position in Herman Miller during the first quarter valued at $121,000. Deprince Race & Zollo Inc. increased its position in Herman Miller by 10.4% during the second quarter. Deprince Race & Zollo Inc. now owns 40,521 shares of the business services provider’s stock valued at $1,374,000 after acquiring an additional 3,830 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Herman Miller by 2.8% during the first quarter. California Public Employees Retirement System now owns 152,289 shares of the business services provider’s stock valued at $4,866,000 after acquiring an additional 4,167 shares during the last quarter. Institutional investors own 85.13% of the company’s stock.
A number of research firms have weighed in on MLHR. ValuEngine cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. BidaskClub cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th.
MLHR stock traded down $0.10 during mid-day trading on Friday, reaching $38.30. 171,100 shares of the stock traded hands, compared to its average volume of 386,273. The company has a quick ratio of 1.17, a current ratio of 1.56 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 16.63 and a beta of 1.46. Herman Miller, Inc. has a one year low of $29.95 and a one year high of $41.85.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings results on Monday, July 2nd. The business services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The firm had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $601.10 million. Herman Miller had a net margin of 5.38% and a return on equity of 21.71%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. equities research analysts expect that Herman Miller, Inc. will post 2.7 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Saturday, September 1st will be issued a $0.198 dividend. The ex-dividend date is Thursday, August 30th. This is a boost from Herman Miller’s previous quarterly dividend of $0.18. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.07%. Herman Miller’s dividend payout ratio is presently 31.30%.
Herman Miller 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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