Sit Investment Associates Inc. Continues to Hold Stake in Herman Miller, Inc. (MLHR)

Sit Investment Associates Inc. held its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,075 shares of the business services provider’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Herman Miller were worth $610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Great West Life Assurance Co. Can raised its position in shares of Herman Miller by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 35,223 shares of the business services provider’s stock valued at $1,111,000 after buying an additional 1,274 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Herman Miller by 4.1% in the first quarter. Wells Fargo & Company MN now owns 195,752 shares of the business services provider’s stock valued at $6,177,000 after buying an additional 7,627 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Herman Miller by 1.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,987 shares of the business services provider’s stock valued at $662,000 after buying an additional 300 shares during the last quarter. First Bank & Trust raised its position in shares of Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock valued at $121,000 after buying an additional 448 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in shares of Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock valued at $132,000 after buying an additional 204 shares during the last quarter. Institutional investors own 86.12% of the company’s stock.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) remained flat at $33.00 during mid-day trading on Friday. The company had a trading volume of 425,424 shares. The firm has a 50 day moving average of $33.22 and a 200 day moving average of $31.86. Herman Miller, Inc. has a 12 month low of $26.99 and a 12 month high of $36.46. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.10 and a beta of 1.45.

Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.09. The business had revenue of $577.20 million for the quarter, compared to the consensus estimate of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Equities analysts predict that Herman Miller, Inc. will post $2.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Saturday, September 2nd will be given a $0.18 dividend. This is an increase from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Wednesday, August 30th. Herman Miller’s dividend payout ratio (DPR) is 33.17%.

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MLHR has been the topic of several research reports. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, July 11th. Sidoti initiated coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $38.00.

In other news, insider Gregory J. Bylsma sold 9,435 shares of Herman Miller stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $33.88, for a total value of $319,657.80. Following the transaction, the insider now directly owns 42,534 shares of the company’s stock, valued at $1,441,051.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Hezron T. Lopez sold 2,312 shares of Herman Miller stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $33.96, for a total transaction of $78,515.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,535 shares of company stock worth $3,678,089. 1.91% of the stock is currently owned by insiders.

Herman Miller Company Profile

Institutional Ownership by Quarter for Herman Miller (NASDAQ:MLHR)

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