APG Asset Management N.V. purchased a new stake in shares of Herman Miller, Inc. (NASDAQ:MLHR) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 44,000 shares of the business services provider’s stock, valued at approximately $1,468,000.
Several other hedge funds have also recently made changes to their positions in MLHR. Neuberger Berman Group LLC acquired a new position in shares of Herman Miller during the 3rd quarter valued at about $211,000. BerganKDV Wealth Management LLC acquired a new position in Herman Miller in the fourth quarter valued at about $213,000. UMB Bank N A MO acquired a new position in Herman Miller in the fourth quarter valued at about $239,000. Associated Banc Corp acquired a new position in Herman Miller in the third quarter valued at about $252,000. Finally, Amalgamated Bank lifted its position in Herman Miller by 4.1% in the second quarter. Amalgamated Bank now owns 8,566 shares of the business services provider’s stock valued at $260,000 after buying an additional 336 shares during the last quarter. 82.57% of the stock is currently owned by hedge funds and other institutional investors.
Herman Miller, Inc. (NASDAQ:MLHR) opened at $36.30 on Friday. Herman Miller, Inc. has a 1 year low of $28.55 and a 1 year high of $41.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 0.89. The company has a market cap of $2,189.90, a PE ratio of 17.87 and a beta of 1.34.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Saturday, March 3rd will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, March 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.98%. Herman Miller’s dividend payout ratio (DPR) is presently 35.64%.
A number of research firms have commented on MLHR. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BidaskClub cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Finally, Raymond James Financial raised shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Tuesday, December 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $41.67.
In other Herman Miller news, EVP Jeremy J. Hocking sold 2,442 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.40, for a total transaction of $98,656.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stephen C. Gane sold 8,781 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $41.00, for a total transaction of $360,021.00. Following the sale, the senior vice president now owns 2,536 shares in the company, valued at $103,976. The disclosure for this sale can be found here. Insiders have sold 52,198 shares of company stock worth $2,099,710 over the last quarter. Insiders own 1.91% of the company’s stock.
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Herman Miller Profile
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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