Diversified Trust Co bought a new position in Herman Miller, Inc. (NASDAQ:MLHR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 10,120 shares of the business services provider’s stock, valued at approximately $239,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bartlett & Co. LLC purchased a new stake in Herman Miller during the first quarter valued at about $27,000. Advisors Asset Management Inc. raised its holdings in shares of Herman Miller by 104.2% during the 4th quarter. Advisors Asset Management Inc. now owns 688 shares of the business services provider’s stock valued at $29,000 after buying an additional 351 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in Herman Miller in the 1st quarter worth approximately $86,000. State of Tennessee Treasury Department boosted its stake in Herman Miller by 20.3% in the first quarter. State of Tennessee Treasury Department now owns 6,171 shares of the business services provider’s stock worth $137,000 after buying an additional 1,042 shares in the last quarter. Finally, ETF Managers Group LLC grew its position in Herman Miller by 11.4% during the first quarter. ETF Managers Group LLC now owns 7,890 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 808 shares during the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Herman Miller stock opened at $20.95 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.42 and a current ratio of 1.80. Herman Miller, Inc. has a 52-week low of $14.39 and a 52-week high of $49.87. The company’s 50 day moving average price is $24.25 and its 200-day moving average price is $29.28. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -116.39 and a beta of 1.59.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Tuesday, June 30th. The business services provider reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.21. Herman Miller had a negative net margin of 0.37% and a positive return on equity of 19.90%. The business had revenue of $475.70 million during the quarter, compared to analysts’ expectations of $446.47 million. During the same quarter in the prior year, the company posted $0.88 EPS. The firm’s revenue for the quarter was down 29.1% compared to the same quarter last year.
A number of brokerages have recently issued reports on MLHR. Sidoti raised shares of Herman Miller from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Tuesday, June 30th. BidaskClub lowered shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Benchmark began coverage on Herman Miller in a report on Friday, May 22nd. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.00.
In other Herman Miller news, Director Michael A. Volkema bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were bought at an average cost of $21.44 per share, with a total value of $536,000.00. Following the completion of the purchase, the director now directly owns 125,000 shares of the company’s stock, valued at $2,680,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.91% of the company’s stock.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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