M&T Bank Corp increased its holdings in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,211 shares of the business services provider’s stock after acquiring an additional 475 shares during the period. M&T Bank Corp’s holdings in Herman Miller were worth $493,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MLHR. Riverhead Capital Management LLC boosted its position in Herman Miller by 67.9% during the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock worth $112,000 after purchasing an additional 1,494 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Herman Miller by 4.9% during the first 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 in the last quarter. First Bank & Trust boosted its position in Herman Miller by 4.1% during the second 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 in the last quarter. Sei Investments Co. boosted its position in Herman Miller by 0.6% during the second 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 in the last quarter. Finally, LS Investment Advisors LLC boosted its position in Herman Miller by 17.5% during the second quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock worth $146,000 after purchasing an additional 714 shares in the last quarter. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, CEO Brian C. Walker sold 56,050 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $33.59, for a total transaction of $1,882,719.50. Following the completion of the sale, the chief executive officer now directly owns 164,929 shares of the company’s stock, valued at approximately $5,539,965.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Hezron T. Lopez sold 2,312 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $33.96, for a total value of $78,515.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,942 shares of company stock valued at $6,163,421. Corporate insiders own 1.91% of the company’s stock.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) opened at 35.45 on Friday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 17.73 and a beta of 1.46. Herman Miller, Inc. has a 52-week low of $26.99 and a 52-week high of $37.00. The firm’s 50-day moving average price is $34.29 and its 200-day moving average price is $32.75.

Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $580.30 million during the quarter, compared to analyst estimates of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. Equities analysts forecast that Herman Miller, Inc. will post $2.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 30th. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.03%. Herman Miller’s dividend payout ratio (DPR) is currently 36.00%.

A number of analysts have commented on the company. Zacks Investment Research downgraded Herman Miller from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Sidoti assumed coverage on Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.

Herman Miller Company Profile

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

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