California Public Employees Retirement System decreased its stake in shares of Herman Miller Inc. (NASDAQ:MLHR) by 5.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,100 shares of the company’s stock after selling 8,200 shares during the period. California Public Employees Retirement System owned about 0.24% of Herman Miller worth $4,093,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its position in shares of Herman Miller by 91.2% in the third quarter. Acadian Asset Management LLC now owns 369,556 shares of the company’s stock valued at $10,570,000 after buying an additional 176,277 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Herman Miller by 106.7% in the third quarter. Meeder Asset Management Inc. now owns 46,607 shares of the company’s stock valued at $1,334,000 after buying an additional 24,063 shares in the last quarter. Algert Global LLC boosted its position in shares of Herman Miller by 50.3% in the third quarter. Algert Global LLC now owns 41,550 shares of the company’s stock valued at $1,188,000 after buying an additional 13,897 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Herman Miller by 4.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 20,687 shares of the company’s stock valued at $592,000 after buying an additional 812 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new position in shares of Herman Miller during the second quarter valued at about $816,000. Institutional investors own 82.72% of the company’s stock.

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

Shares of Herman Miller Inc. (NASDAQ:MLHR) traded down 0.74% during midday trading on Tuesday, reaching $33.70. 272,659 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $29.56 and its 200 day moving average price is $31.47. Herman Miller Inc. has a 12-month low of $22.60 and a 12-month high of $36.46. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 14.65 and a beta of 1.44.

Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, September 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm earned $598.60 million during the quarter. Herman Miller had a return on equity of 26.03% and a net margin of 6.07%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. Equities analysts anticipate that Herman Miller Inc. will post $2.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Saturday, December 3rd will be issued a $0.17 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.02%. Herman Miller’s dividend payout ratio (DPR) is presently 29.57%.

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A number of equities research analysts have weighed in on MLHR shares. Seaport Global Securities started coverage on shares of Herman Miller in a report on Friday, November 4th. They issued a “neutral” rating on the stock. Zacks Investment Research cut shares of Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th.

About Herman Miller

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