Virginia Retirement Systems ET AL maintained its stake 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 firm owned 75,500 shares of the business services provider’s stock at the end of the second quarter. Virginia Retirement Systems ET AL owned approximately 0.13% of Herman Miller worth $2,295,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Jensen Investment Management Inc. boosted its stake in shares of Herman Miller by 14.9% in the first quarter. Jensen Investment Management Inc. now owns 15,150 shares of the business services provider’s stock valued at $478,000 after buying an additional 1,960 shares during the period. Tudor Investment Corp ET AL boosted its stake in shares of Herman Miller by 43.3% in the first quarter. Tudor Investment Corp ET AL now owns 25,593 shares of the business services provider’s stock valued at $807,000 after buying an additional 7,733 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Herman Miller by 10.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 346,148 shares of the business services provider’s stock valued at $10,921,000 after buying an additional 33,386 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Herman Miller by 4.3% in the first quarter. Ameriprise Financial Inc. now owns 190,917 shares of the business services provider’s stock valued at $6,022,000 after buying an additional 7,787 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in shares of Herman Miller during the first quarter valued at approximately $1,206,000. 84.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Herman Miller, Inc. (NASDAQ MLHR) opened at 33.80 on Wednesday. The stock has a 50 day moving average of $33.41 and a 200-day moving average of $31.91. The company has a market capitalization of $2.02 billion, a PE ratio of 16.49 and a beta of 1.45. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $36.46.

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

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.13%. Herman Miller’s dividend payout ratio (DPR) is presently 33.17%.

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Several equities research analysts have commented on MLHR shares. Zacks Investment Research raised 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 started coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target on the stock. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $38.00.

In other news, CEO Brian C. Walker sold 14,000 shares of Herman Miller stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $32.73, for a total transaction of $458,220.00. Following the sale, the chief executive officer now owns 160,979 shares in the company, valued at $5,268,842.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Hezron T. Lopez sold 2,312 shares of Herman Miller stock in a transaction that occurred on Friday, July 21st. The shares were 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. In the last 90 days, insiders have sold 123,535 shares of company stock worth $4,136,309. 1.91% of the stock is owned by company insiders.

About Herman Miller

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

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