Ifrah Financial Services Inc. 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 (SEC). The fund purchased 5,618 shares of the business services provider’s stock, valued at approximately $216,000.
Several other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised its holdings in Herman Miller by 5.5% during the second quarter. BlackRock Inc. now owns 6,934,391 shares of the business services provider’s stock worth $235,074,000 after purchasing an additional 364,047 shares during the last quarter. LSV Asset Management raised its holdings in Herman Miller by 8.1% during the second quarter. LSV Asset Management now owns 2,724,676 shares of the business services provider’s stock worth $92,366,000 after purchasing an additional 203,069 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Herman Miller by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,830,749 shares of the business services provider’s stock worth $62,063,000 after purchasing an additional 143,622 shares during the last quarter. Vulcan Value Partners LLC raised its holdings in Herman Miller by 28.2% during the second quarter. Vulcan Value Partners LLC now owns 1,174,053 shares of the business services provider’s stock worth $39,800,000 after purchasing an additional 258,238 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Herman Miller by 1.6% during the second quarter. Northern Trust Corp now owns 959,237 shares of the business services provider’s stock worth $32,518,000 after purchasing an additional 14,791 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.
MLHR has been the subject of several research reports. BidaskClub cut Herman Miller from a “sell” rating to a “strong sell” rating in a report on Friday, September 14th. Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, September 25th. Finally, ValuEngine cut Herman Miller from a “buy” rating to a “hold” rating in a report on Friday, August 3rd.
Shares of MLHR stock opened at $34.59 on Thursday. The firm has a market cap of $2.03 billion, a P/E ratio of 15.04 and a beta of 1.44. Herman Miller, Inc. has a 1 year low of $29.95 and a 1 year high of $41.85. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 0.42.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.04. The company had revenue of $624.60 million for the quarter, compared to the consensus estimate of $620.73 million. Herman Miller had a return on equity of 22.22% and a net margin of 5.40%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. As a group, research analysts predict that Herman Miller, Inc. will post 2.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Saturday, December 1st will be given a $0.1975 dividend. This represents a $0.79 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, November 29th. Herman Miller’s dividend payout ratio is currently 34.35%.
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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