Herman Miller, Inc. (MLHR) Position Trimmed by ProShare Advisors LLC

ProShare Advisors LLC lowered its position in Herman Miller, Inc. (NASDAQ:MLHR) by 20.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,650 shares of the business services provider’s stock after selling 2,447 shares during the period. ProShare Advisors LLC’s holdings in Herman Miller were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MLHR. BlackRock Inc. boosted its holdings in Herman Miller by 22,901.9% in the 1st quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock worth $192,154,000 after buying an additional 6,063,973 shares during the period. Royce & Associates LP boosted its holdings in Herman Miller by 50.2% in the 2nd quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock worth $72,108,000 after buying an additional 793,188 shares during the period. Van Berkom & Associates Inc. boosted its holdings in Herman Miller by 23.6% in the 2nd quarter. Van Berkom & Associates Inc. now owns 1,543,957 shares of the business services provider’s stock worth $46,936,000 after buying an additional 294,356 shares during the period. LSV Asset Management boosted its holdings in Herman Miller by 15.1% in the 2nd quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock worth $57,456,000 after buying an additional 247,300 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Herman Miller by 20.8% in the 2nd quarter. Prudential Financial Inc. now owns 1,180,780 shares of the business services provider’s stock worth $35,895,000 after buying an additional 202,970 shares during the period. 83.96% of the stock is owned by institutional investors.

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MLHR has been the subject of several recent analyst reports. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Sidoti initiated coverage on shares of Herman Miller in a report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 target price for the company. Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Tuesday, September 26th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $38.00.

Herman Miller, Inc. (NASDAQ MLHR) opened at 35.80 on Thursday. The company has a market cap of $2.14 billion, a P/E ratio of 17.90 and a beta of 1.46. Herman Miller, Inc. has a 12-month low of $26.99 and a 12-month high of $37.00. The firm’s 50 day moving average is $34.52 and its 200 day moving average is $32.88.

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

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be given 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 dividend on an annualized basis and a yield of 2.01%. Herman Miller’s payout ratio is presently 36.00%.

In related news, SVP Stephen C. Gane sold 10,686 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $36.01, for a total transaction of $384,802.86. Following the transaction, the senior vice president now directly owns 21,985 shares in the company, valued at $791,679.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Hezron T. Lopez sold 2,312 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was 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. Insiders have sold 140,204 shares of company stock worth $4,766,225 over the last 90 days. 1.91% of the stock is currently owned by company insiders.

About Herman Miller

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

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