Lingohr & Partner Asset Management GmbH trimmed its stake in Herman Miller, Inc. (NASDAQ:MLHR) by 35.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,900 shares of the business services provider’s stock after selling 11,600 shares during the quarter. Lingohr & Partner Asset Management GmbH’s holdings in Herman Miller were worth $837,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of MLHR. Schwab Charles Investment Management Inc. lifted its stake in shares of Herman Miller by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 428,183 shares of the business services provider’s stock valued at $17,149,000 after buying an additional 20,138 shares in the last quarter. BerganKDV Wealth Management LLC bought a new position in shares of Herman Miller in the fourth quarter valued at $213,000. Bank of Montreal Can lifted its stake in shares of Herman Miller by 34.3% in the fourth quarter. Bank of Montreal Can now owns 131,228 shares of the business services provider’s stock valued at $5,255,000 after buying an additional 33,491 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Herman Miller in the fourth quarter valued at $308,000. Finally, Prudential Financial Inc. lifted its stake in shares of Herman Miller by 31.8% in the third quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock valued at $55,871,000 after buying an additional 375,520 shares in the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.
A number of research analysts recently weighed in on MLHR shares. Zacks Investment Research lowered shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Monday, December 11th. BidaskClub raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Finally, Raymond James Financial raised shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Tuesday, December 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.67.
Shares of Herman Miller, Inc. (MLHR) traded up $0.15 during mid-day trading on Friday, reaching $36.45. 508,636 shares of the company’s stock traded hands, compared to its average volume of 337,857. The company has a market capitalization of $2,174.97, a price-to-earnings ratio of 18.04 and a beta of 1.34. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32. Herman Miller, Inc. has a twelve month low of $28.55 and a twelve month high of $41.85.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $604.60 million for the quarter, compared to analyst estimates 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 for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. analysts expect that Herman Miller, Inc. will post 2.35 earnings per share 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 paid a $0.18 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.98%. Herman Miller’s payout ratio is 35.64%.
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About Herman Miller
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.
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