Herman Miller, Inc. (MLHR) Shares Bought by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. boosted its position in Herman Miller, Inc. (NASDAQ:MLHR) by 65.3% in the 1st quarter, HoldingsChannel reports. The firm owned 112,545 shares of the business services provider’s stock after buying an additional 44,454 shares during the period. Clark Capital Management Group Inc.’s holdings in Herman Miller were worth $3,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLHR. Arizona State Retirement System grew its holdings in Herman Miller by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,588 shares of the business services provider’s stock valued at $1,288,000 after buying an additional 342 shares during the last quarter. First Bank & Trust grew its holdings in Herman Miller by 10.6% during the 4th quarter. First Bank & Trust now owns 4,156 shares of the business services provider’s stock valued at $126,000 after buying an additional 399 shares during the last quarter. Meritage Portfolio Management grew its holdings in Herman Miller by 0.4% during the 1st quarter. Meritage Portfolio Management now owns 110,475 shares of the business services provider’s stock valued at $3,887,000 after buying an additional 420 shares during the last quarter. Advisor Group Inc. grew its holdings in Herman Miller by 61.2% during the 4th quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock valued at $40,000 after buying an additional 499 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in Herman Miller by 9.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,485 shares of the business services provider’s stock valued at $226,000 after buying an additional 663 shares during the last quarter. 82.24% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Gregory J. Bylsma sold 9,048 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.98, for a total transaction of $316,499.04. Following the sale, the insider now owns 37,134 shares in the company, valued at $1,298,947.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory J. Bylsma sold 5,236 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $38.99, for a total value of $204,151.64. Following the sale, the insider now owns 31,898 shares in the company, valued at approximately $1,243,703.02. The disclosure for this sale can be found here. Insiders have sold 17,392 shares of company stock worth $642,857 in the last 90 days. Insiders own 1.05% of the company’s stock.

Shares of NASDAQ:MLHR opened at $37.87 on Wednesday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 16.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.48. Herman Miller, Inc. has a one year low of $28.66 and a one year high of $40.65.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, March 20th. The business services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Herman Miller had a return on equity of 23.88% and a net margin of 5.81%. The firm had revenue of $619.00 million for the quarter, compared to analysts’ expectations of $622.43 million. During the same quarter in the prior year, the firm earned $0.50 EPS. Herman Miller’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Herman Miller, Inc. will post 2.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Saturday, June 1st will be issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, May 30th. Herman Miller’s dividend payout ratio (DPR) is 34.35%.

A number of equities research analysts have commented on the company. BidaskClub upgraded Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Sidoti cut Herman Miller from a “buy” rating to a “neutral” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Herman Miller has an average rating of “Buy” and an average price target of $39.50.

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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.

Further Reading: Certificate of Deposit (CD)

Want to see what other hedge funds are holding MLHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Herman Miller, Inc. (NASDAQ:MLHR).

Institutional Ownership by Quarter for Herman Miller (NASDAQ:MLHR)

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