Shelton Capital Management raised its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 54.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,000 shares of the business services provider’s stock after buying an additional 14,876 shares during the period. Shelton Capital Management owned approximately 0.07% of Herman Miller worth $1,325,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Herman Miller during the fourth quarter worth about $744,000. Summit Global Investments acquired a new position in shares of Herman Miller during the fourth quarter worth about $431,000. Denver Investment Advisors LLC acquired a new position in shares of Herman Miller during the fourth quarter worth about $500,000. Guggenheim Capital LLC increased its position in shares of Herman Miller by 380.3% in the fourth quarter. Guggenheim Capital LLC now owns 57,449 shares of the business services provider’s stock worth $1,965,000 after buying an additional 45,489 shares during the period. Finally, Tudor Investment Corp Et Al increased its position in shares of Herman Miller by 105.3% in the fourth quarter. Tudor Investment Corp Et Al now owns 17,860 shares of the business services provider’s stock worth $611,000 after buying an additional 9,160 shares during the period. 84.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Herman Miller, Inc. (MLHR) traded down 1.13% during midday trading on Tuesday, reaching $30.70. The company’s stock had a trading volume of 194,410 shares. The firm has a market capitalization of $1.84 billion, a PE ratio of 14.15 and a beta of 1.40. Herman Miller, Inc. has a 1-year low of $26.99 and a 1-year high of $36.46. The company’s 50-day moving average price is $32.27 and its 200 day moving average price is $31.93.
Herman Miller (NASDAQ:MLHR) last issued its earnings results on Wednesday, March 22nd. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Herman Miller had a return on equity of 22.73% and a net margin of 5.75%. The company had revenue of $524.90 million during the quarter, compared to analyst estimates of $530.50 million. During the same quarter last year, the firm earned $0.46 EPS. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Herman Miller, Inc. will post $2.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Saturday, June 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.21%. Herman Miller’s dividend payout ratio is currently 31.34%.
A number of equities research analysts have weighed in on MLHR shares. Zacks Investment Research cut Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Raymond James Financial, Inc. upgraded Herman Miller from an “underperform” rating to a “market perform” rating in a research note on Thursday, March 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $35.00.
In related news, SVP Michael F. Ramirez sold 1,297 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $33.33, for a total transaction of $43,229.01. Following the completion of the transaction, the senior vice president now owns 14,966 shares in the company, valued at approximately $498,816.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Benedict Watson sold 8,925 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $33.85, for a total value of $302,111.25. Following the transaction, the insider now owns 5,864 shares of the company’s stock, valued at approximately $198,496.40. The disclosure for this sale can be found here. Insiders have sold a total of 37,107 shares of company stock valued at $1,224,525 in the last 90 days. Insiders own 1.91% of the company’s stock.
About Herman Miller
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