Schwab Charles Investment Management Inc. lifted its holdings in Herman Miller, Inc. (NASDAQ:MLHR) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,745 shares of the business services provider’s stock after purchasing an additional 22,597 shares during the period. Schwab Charles Investment Management Inc. owned about 0.62% of Herman Miller worth $11,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Meadow Creek Investment Management LLC grew its stake in shares of Herman Miller by 5.1% in the 1st quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after purchasing an additional 168 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Herman Miller by 4.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after purchasing an additional 181 shares during the last quarter. First Bank & Trust grew its stake in shares of Herman Miller by 4.1% in the 2nd quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock worth $121,000 after purchasing an additional 158 shares during the last quarter. Sei Investments Co. grew its stake in shares of Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock worth $135,000 after purchasing an additional 26 shares during the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Herman Miller by 17.5% in the second quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock worth $146,000 after acquiring an additional 714 shares in the last quarter. 83.96% of the stock is currently owned by institutional investors.

Herman Miller, Inc. (NASDAQ MLHR) opened at 35.90 on Friday. The stock has a 50 day moving average of $33.52 and a 200 day moving average of $32.35. The stock has a market capitalization of $2.15 billion, a P/E ratio of 17.95 and a beta of 1.44. Herman Miller, Inc. has a 52-week low of $26.99 and a 52-week high of $36.45.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. The company had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. Herman Miller’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. On average, equities research analysts forecast that Herman Miller, Inc. will post $2.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.01%. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, August 30th. Herman Miller’s dividend payout ratio is presently 36.00%.

Several research analysts have recently weighed in on MLHR shares. Zacks Investment Research downgraded shares of Herman Miller from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Sidoti started coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $38.00.

In related news, EVP Michael F. Ramirez sold 4,091 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $33.98, for a total transaction of $139,012.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew J. Lock sold 24,277 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $34.17, for a total value of $829,545.09. Following the sale, the insider now directly owns 26,388 shares of the company’s stock, valued at $901,677.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,256 shares of company stock valued at $5,778,618. 1.91% of the stock is owned by company insiders.

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About Herman Miller

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

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