JPMorgan Chase & Co. decreased its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 16.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,229,727 shares of the business services provider’s stock after selling 452,137 shares during the quarter. JPMorgan Chase & Co. owned about 3.73% of Herman Miller worth $79,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio increased its holdings in shares of Herman Miller by 6.2% during the second quarter. Strs Ohio now owns 13,700 shares of the business services provider’s stock valued at $416,000 after acquiring an additional 800 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Herman Miller by 20.8% during the second quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock valued at $35,895,000 after acquiring an additional 202,970 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Herman Miller during the second quarter valued at approximately $1,231,000. California Public Employees Retirement System increased its holdings in shares of Herman Miller by 8.5% during the second quarter. California Public Employees Retirement System now owns 127,300 shares of the business services provider’s stock valued at $3,870,000 after acquiring an additional 10,000 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Herman Miller by 8.8% during the third quarter. First Trust Advisors LP now owns 56,032 shares of the business services provider’s stock valued at $2,012,000 after acquiring an additional 4,528 shares in the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

Several equities research analysts have recently commented on MLHR shares. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, September 26th. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.00.

Herman Miller, Inc. (MLHR) opened at $33.85 on Wednesday. The stock has a market capitalization of $2,065.34, a P/E ratio of 16.15 and a beta of 1.48. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33. Herman Miller, Inc. has a 1 year low of $28.55 and a 1 year high of $37.00.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $580.30 million for 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 quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. research analysts forecast that Herman Miller, Inc. will post 2.32 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.13%. Herman Miller’s payout ratio is 36.00%.

In related news, insider Andrew J. Lock sold 24,277 shares of Herman Miller stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $34.17, for a total transaction of $829,545.09. Following the transaction, the insider now owns 26,388 shares of the company’s stock, valued at $901,677.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David O. Ulrich sold 13,382 shares of Herman Miller stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $32.38, for a total value of $433,309.16. Following the transaction, the director now directly owns 21,949 shares in the company, valued at approximately $710,708.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,789 shares of company stock worth $2,955,741. 1.91% of the stock is owned by insiders.

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Herman Miller Profile

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

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