Northern Trust Corp Has $30.82 Million Stake in Herman Miller, Inc. (MLHR)

Northern Trust Corp grew its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,013,671 shares of the business services provider’s stock after purchasing an additional 7,741 shares during the period. Northern Trust Corp owned approximately 1.69% of Herman Miller worth $30,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MLHR. BlackRock Inc. raised its stake in shares of Herman Miller by 22,901.9% during the first quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock valued at $192,154,000 after purchasing an additional 6,063,973 shares during the period. Royce & Associates LP raised its stake in shares of Herman Miller by 50.2% during the second quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock valued at $72,108,000 after purchasing an additional 793,188 shares during the period. Van Berkom & Associates Inc. raised its stake in shares of Herman Miller by 23.6% during the second quarter. Van Berkom & Associates Inc. now owns 1,543,957 shares of the business services provider’s stock valued at $46,936,000 after purchasing an additional 294,356 shares during the period. LSV Asset Management raised its stake in shares of Herman Miller by 15.1% during the second quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock valued at $57,456,000 after purchasing an additional 247,300 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Herman Miller by 20.8% during the second quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock valued at $35,895,000 after purchasing an additional 202,970 shares during the period. Institutional investors own 83.96% of the company’s stock.

A number of analysts have recently issued reports on MLHR shares. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Sidoti started coverage on shares of Herman Miller in a research note on Tuesday, June 27th. They set a “buy” rating and a $38.00 price objective on the stock. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, September 26th. Finally, BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.00.

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Shares of Herman Miller, Inc. (NASDAQ MLHR) opened at 35.15 on Wednesday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 17.58 and a beta of 1.46. Herman Miller, Inc. has a 52 week low of $27.03 and a 52 week high of $37.00. The company has a 50 day moving average of $34.71 and a 200-day moving average of $32.96.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The company had revenue of $580.30 million during the quarter, compared to analyst estimates of $578.27 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Herman Miller, Inc. will post $2.27 earnings per share for the current fiscal year.

In other news, SVP Stephen C. Gane sold 10,686 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $36.01, for a total transaction of $384,802.86. Following the completion of the transaction, the senior vice president now directly owns 21,985 shares in the company, valued at $791,679.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Hezron T. Lopez sold 2,312 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $33.96, for a total value of $78,515.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,204 shares of company stock valued at $4,766,225. Corporate insiders own 1.91% of the company’s stock.

About Herman Miller

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

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