Jane Street Group LLC lifted its position in Herman Miller, Inc. (NASDAQ:MLHR) by 18.8% during the 3rd quarter, Holdings Channel reports. The firm owned 10,744 shares of the business services provider’s stock after acquiring an additional 1,703 shares during the quarter. Jane Street Group LLC’s holdings in Herman Miller were worth $413,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of Herman Miller by 24.9% during the second quarter. First Trust Advisors LP now owns 50,151 shares of the business services provider’s stock valued at $1,700,000 after purchasing an additional 9,999 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Herman Miller by 11.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 497,784 shares of the business services provider’s stock worth $16,875,000 after acquiring an additional 51,084 shares during the last quarter. BlackRock Inc. raised its position in shares of Herman Miller by 5.5% during the second quarter. BlackRock Inc. now owns 6,934,391 shares of the business services provider’s stock worth $235,074,000 after acquiring an additional 364,047 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Herman Miller by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,830,749 shares of the business services provider’s stock worth $62,063,000 after acquiring an additional 143,622 shares during the last quarter. Finally, FMR LLC bought a new position in shares of Herman Miller during the second quarter worth about $1,920,000. 82.05% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, December 26th. Raymond James lowered their price objective on Herman Miller from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, December 21st. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Friday.
Herman Miller (NASDAQ:MLHR) last issued its earnings results on Wednesday, December 19th. The business services provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The business had revenue of $652.60 million during the quarter, compared to the consensus estimate of $645.67 million. Herman Miller had a return on equity of 23.25% and a net margin of 5.53%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. On average, research analysts anticipate that Herman Miller, Inc. will post 2.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Saturday, December 1st will be issued a $0.1975 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.79 dividend on an annualized basis and a yield of 2.38%. Herman Miller’s payout ratio is currently 34.35%.
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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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