Arizona State Retirement System raised its position in Herman Miller, Inc. (NASDAQ:MLHR) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,027 shares of the business services provider’s stock after purchasing an additional 9,124 shares during the period. Arizona State Retirement System owned 0.07% of Herman Miller worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. BerganKDV Wealth Management LLC purchased a new stake in shares of Herman Miller in the 4th quarter valued at approximately $213,000. Ifrah Financial Services Inc. purchased a new stake in shares of Herman Miller in the 4th quarter valued at approximately $224,000. Neuberger Berman Group LLC purchased a new stake in shares of Herman Miller in the 3rd quarter valued at approximately $211,000. UMB Bank N A MO purchased a new stake in shares of Herman Miller in the 4th quarter valued at approximately $239,000. Finally, LS Investment Advisors LLC increased its position in shares of Herman Miller by 44.7% in the 4th quarter. LS Investment Advisors LLC now owns 6,891 shares of the business services provider’s stock valued at $276,000 after purchasing an additional 2,130 shares during the last quarter. 82.72% of the stock is currently owned by institutional investors.
MLHR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Wednesday, November 22nd. BidaskClub downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. Finally, Raymond James Financial raised shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.67.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, December 20th. The business services provider reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The firm had revenue of $604.60 million for the quarter, compared to the consensus estimate of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. research analysts predict that Herman Miller, Inc. will post 2.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Saturday, March 3rd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, March 1st. Herman Miller’s dividend payout ratio is currently 35.47%.
In related news, VP Kevin J. Veltman sold 1,190 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total transaction of $47,933.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian C. Walker sold 90,003 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $36.27, for a total transaction of $3,264,408.81. Following the sale, the chief executive officer now owns 226,389 shares of the company’s stock, valued at approximately $8,211,129.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 142,202 shares of company stock valued at $5,364,155. 1.91% of the stock is owned by company insiders.
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About Herman Miller
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.
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