Fmr LLC Maintains Position in Herman Miller, Inc. (NASDAQ:MLHR)

FMR LLC continued to hold its stake in shares of Herman Miller, Inc. (NASDAQ:MLHR) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 184,250 shares of the business services provider’s stock at the end of the first quarter. FMR LLC owned about 0.31% of Herman Miller worth $5,813,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Meadow Creek Investment Management LLC increased its position in Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after buying an additional 168 shares during the period. First Bank & Trust increased its position in Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock worth $121,000 after buying an additional 448 shares during the period. Glen Harbor Capital Management LLC increased its position in Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock worth $132,000 after buying an additional 204 shares during the period. Forward Management LLC increased its position in Herman Miller by 3.1% in the first quarter. Forward Management LLC now owns 4,623 shares of the business services provider’s stock worth $146,000 after buying an additional 138 shares during the period. Finally, Ronald Blue & Co. LLC increased its position in Herman Miller by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 6,696 shares of the business services provider’s stock worth $211,000 after buying an additional 294 shares during the period. 84.67% of the stock is currently owned by institutional investors and hedge funds.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded down 1.64% during trading on Wednesday, hitting $33.00. The stock had a trading volume of 363,845 shares. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $36.46. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 16.10 and a beta of 1.45. The stock’s 50-day moving average price is $32.46 and its 200 day moving average price is $31.72.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The firm had revenue of $577.20 million for the quarter, compared to analysts’ expectations of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. On average, equities analysts forecast that Herman Miller, Inc. will post $2.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.18%. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s dividend payout ratio is currently 33.17%.

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A number of research firms recently commented on MLHR. Sidoti assumed coverage on Herman Miller in a research note on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target for the company. Zacks Investment Research downgraded Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.00.

In other Herman Miller news, CEO Brian C. Walker sold 56,050 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $33.59, for a total transaction of $1,882,719.50. Following the sale, the chief executive officer now directly owns 164,929 shares of the company’s stock, valued at $5,539,965.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Hezron T. Lopez sold 2,312 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $33.96, for a total transaction of $78,515.52. The disclosure for this sale can be found here. Insiders have sold 109,535 shares of company stock worth $3,678,089 over the last ninety days. Insiders own 1.91% of the company’s stock.

Herman Miller Company Profile

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

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