Foundry Partners LLC lowered its position in Herman Miller Inc. (NASDAQ:MLHR) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 11,860 shares of the company’s stock after selling 375 shares during the period. Foundry Partners LLC’s holdings in Herman Miller were worth $339,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. LS Investment Advisors LLC increased its stake in Herman Miller by 77.0% in the second quarter. LS Investment Advisors LLC now owns 3,663 shares of the company’s stock worth $109,000 after buying an additional 1,594 shares during the last quarter. Advance Capital I Inc. bought a new stake in shares of Herman Miller during the second quarter valued at about $209,000. Amalgamated Bank increased its stake in shares of Herman Miller by 10.1% in the second quarter. Amalgamated Bank now owns 7,223 shares of the company’s stock valued at $240,000 after buying an additional 661 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Herman Miller by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 8,386 shares of the company’s stock valued at $251,000 after buying an additional 1,023 shares in the last quarter. Finally, National Investment Services Inc. WI bought a new stake in shares of Herman Miller during the second quarter valued at about $272,000. Institutional investors own 81.34% of the company’s stock.
Shares of Herman Miller Inc. (NASDAQ:MLHR) traded down 0.15% during mid-day trading on Friday, hitting $34.30. The stock had a trading volume of 116,363 shares. The company has a 50 day moving average price of $29.39 and a 200 day moving average price of $31.44. The firm has a market cap of $2.06 billion, a P/E ratio of 14.91 and a beta of 1.44. Herman Miller Inc. has a 12-month low of $22.60 and a 12-month high of $36.46.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, September 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.62 by $0.02. Herman Miller had a net margin of 6.07% and a return on equity of 26.03%. The business earned $598.60 million during the quarter. During the same quarter in the prior year, the company posted $0.56 EPS. Herman Miller’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities analysts forecast that Herman Miller Inc. will post $2.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Investors of record on Saturday, December 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, November 30th. Herman Miller’s dividend payout ratio is currently 29.57%.
Several brokerages have recently issued reports on MLHR. Zacks Investment Research upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Wednesday. Seaport Global Securities began coverage on Herman Miller in a research report on Friday, November 4th. They issued a “neutral” rating on the stock.
Herman Miller Company Profile