Zebra Capital Management LLC increased its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 25.7% during the fourth quarter, Holdings Channel reports. The firm owned 80,899 shares of the company’s stock after buying an additional 16,539 shares during the period. Herman Miller accounts for approximately 0.8% of Zebra Capital Management LLC’s investment portfolio, making the stock its 9th largest position. Zebra Capital Management LLC owned about 0.13% of Herman Miller worth $2,767,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in MLHR. Bank of New York Mellon Corp boosted its stake in shares of Herman Miller by 4.7% in the third quarter. Bank of New York Mellon Corp now owns 810,853 shares of the company’s stock worth $23,191,000 after buying an additional 36,758 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Herman Miller by 5.5% in the third quarter. BlackRock Fund Advisors now owns 3,148,022 shares of the company’s stock worth $90,033,000 after buying an additional 165,032 shares during the period. LSV Asset Management boosted its stake in shares of Herman Miller by 89.1% in the third quarter. LSV Asset Management now owns 1,031,575 shares of the company’s stock worth $29,503,000 after buying an additional 486,046 shares during the period. Prudential Financial Inc. boosted its stake in shares of Herman Miller by 3.4% in the third quarter. Prudential Financial Inc. now owns 781,950 shares of the company’s stock worth $22,364,000 after buying an additional 25,960 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its stake in shares of Herman Miller by 1.7% in the third quarter. Palisade Capital Management LLC NJ now owns 513,813 shares of the company’s stock worth $14,695,000 after buying an additional 8,794 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.
Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded down 1.79% during mid-day trading on Tuesday, hitting $30.15. The stock had a trading volume of 286,418 shares. The firm has a market cap of $1.81 billion, a PE ratio of 13.34 and a beta of 1.45. The stock has a 50 day moving average price of $31.71 and a 200 day moving average price of $31.99. Herman Miller, Inc. has a 52 week low of $23.64 and a 52 week high of $36.46.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, December 21st. The company reported $0.54 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. The business earned $577.50 million during the quarter. Herman Miller had a return on equity of 24.45% and a net margin of 5.95%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. Equities research analysts expect that Herman Miller, Inc. will post $1.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Saturday, March 4th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $0.68 annualized dividend and a yield of 2.26%. Herman Miller’s dividend payout ratio is presently 30.09%.
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MLHR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Wednesday, November 23rd. Cann cut Herman Miller from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 3rd. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Herman Miller in a research report on Tuesday, January 3rd. Finally, Seaport Global Securities began coverage on Herman Miller in a report on Friday, November 4th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Herman Miller presently has a consensus rating of “Sell” and a consensus price target of $34.00.
In other Herman Miller news, Director Douglas D. French sold 998 shares of Herman Miller stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $30.95, for a total value of $30,888.10. Following the completion of the transaction, the director now directly owns 11,287 shares of the company’s stock, valued at approximately $349,332.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald D. Goeman sold 4,111 shares of Herman Miller stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $31.41, for a total value of $129,126.51. Following the completion of the transaction, the executive vice president now directly owns 7,029 shares of the company’s stock, valued at $220,780.89. The disclosure for this sale can be found here. Insiders sold a total of 13,370 shares of company stock valued at $427,279 over the last ninety days. Insiders own 1.91% of the company’s stock.
About Herman Miller
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