Herman Miller, Inc. (MLHR) Position Cut by Texas Permanent School Fund

Texas Permanent School Fund cut its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,408 shares of the business services provider’s stock after selling 3,251 shares during the period. Texas Permanent School Fund owned 0.07% of Herman Miller worth $1,618,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MLHR. Teachers Advisors LLC boosted its holdings in Herman Miller by 4.7% during the second quarter. Teachers Advisors LLC now owns 107,811 shares of the business services provider’s stock worth $3,277,000 after buying an additional 4,888 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Herman Miller by 32.8% during the second quarter. Ameriprise Financial Inc. now owns 253,590 shares of the business services provider’s stock valued at $7,710,000 after purchasing an additional 62,673 shares in the last quarter. Amalgamated Bank lifted its holdings in Herman Miller by 4.1% during the second quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock valued at $260,000 after purchasing an additional 336 shares in the last quarter. Northern Trust Corp lifted its holdings in Herman Miller by 0.8% during the second quarter. Northern Trust Corp now owns 1,013,671 shares of the business services provider’s stock valued at $30,816,000 after purchasing an additional 7,741 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Herman Miller by 8.5% during the second quarter. California Public Employees Retirement System now owns 127,300 shares of the business services provider’s stock valued at $3,870,000 after purchasing an additional 10,000 shares in the last quarter. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

MLHR has been the topic of several recent analyst reports. Raymond James Financial raised shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Tuesday, December 26th. ValuEngine downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BidaskClub raised shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, Zacks Investment Research downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Herman Miller presently has an average rating of “Buy” and a consensus target price of $41.67.

Herman Miller, Inc. (NASDAQ MLHR) opened at $36.45 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2,166.03, a price-to-earnings ratio of 16.73 and a beta of 1.34. Herman Miller, Inc. has a twelve month low of $28.55 and a twelve month high of $41.85.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The business 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% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. equities research analysts predict that Herman Miller, Inc. will post 2.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Saturday, March 3rd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 1st. Herman Miller’s dividend payout ratio (DPR) is 35.64%.

In other news, EVP Jeremy J. Hocking sold 2,442 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.40, for a total value of $98,656.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen C. Gane sold 8,781 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $41.00, for a total transaction of $360,021.00. Following the completion of the sale, the senior vice president now owns 2,536 shares of the company’s stock, valued at $103,976. The disclosure for this sale can be found here. Insiders sold 52,198 shares of company stock valued at $2,099,710 over the last quarter. Company insiders own 1.91% of the company’s stock.

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Herman Miller Profile

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.

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

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