KBC Group NV lifted its holdings in Herman Miller, Inc. (NASDAQ:MLHR) by 1,296.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,618 shares of the business services provider’s stock after buying an additional 21,927 shares during the period. KBC Group NV’s holdings in Herman Miller were worth $1,056,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of MLHR. Victory Capital Management Inc. boosted its stake in shares of Herman Miller by 1,444.6% during the 1st quarter. Victory Capital Management Inc. now owns 398,813 shares of the business services provider’s stock worth $14,030,000 after purchasing an additional 372,994 shares during the period. Geode Capital Management LLC boosted its stake in shares of Herman Miller by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 887,738 shares of the business services provider’s stock worth $26,853,000 after purchasing an additional 60,758 shares during the period. IndexIQ Advisors LLC purchased a new position in shares of Herman Miller during the 1st quarter worth about $1,581,000. Clark Capital Management Group Inc. boosted its stake in shares of Herman Miller by 65.3% during the 1st quarter. Clark Capital Management Group Inc. now owns 112,545 shares of the business services provider’s stock worth $3,959,000 after purchasing an additional 44,454 shares during the period. Finally, GAM Holding AG purchased a new position in shares of Herman Miller during the 1st quarter worth about $1,549,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.
MLHR has been the subject of several research reports. Raymond James upped their price target on shares of Herman Miller from $41.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, June 28th. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, ValuEngine lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $49.00.
Herman Miller stock traded up $0.34 during mid-day trading on Friday, reaching $44.58. 8,514 shares of the company traded hands, compared to its average volume of 331,851. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.48 and a quick ratio of 1.07. Herman Miller, Inc. has a fifty-two week low of $28.66 and a fifty-two week high of $46.29. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 15.01 and a beta of 1.66. The firm’s fifty day moving average is $43.19 and its two-hundred day moving average is $39.65.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.10. The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $657.23 million. Herman Miller had a net margin of 6.25% and a return on equity of 25.20%. Herman Miller’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. As a group, equities research analysts predict that Herman Miller, Inc. will post 3.32 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Saturday, August 31st will be paid a $0.21 dividend. This is a positive change from Herman Miller’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 29th. This represents a $0.84 annualized dividend and a yield of 1.88%. Herman Miller’s dividend payout ratio is currently 28.28%.
In other Herman Miller news, insider Gregory J. Bylsma sold 10,717 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $44.19, for a total value of $473,584.23. Following the sale, the insider now owns 21,181 shares in the company, valued at $935,988.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory J. Bylsma sold 35,087 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $45.25, for a total value of $1,587,686.75. Following the completion of the sale, the insider now owns 34,137 shares in the company, valued at approximately $1,544,699.25. The disclosure for this sale can be found here. Insiders sold 96,601 shares of company stock worth $4,329,094 in the last 90 days. Corporate insiders own 0.91% of the company’s stock.
About Herman Miller
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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