Quantbot Technologies LP purchased a new position in Herman Miller, Inc. (NASDAQ:MLHR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,619 shares of the business services provider’s stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Meadow Creek Investment Management LLC increased its stake in Herman Miller by 5.1% in the first 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 period. Riverhead Capital Management LLC increased its stake in Herman Miller by 67.9% in 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 during the period. First Bank & Trust increased its stake in Herman Miller by 4.1% in 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 during the period. Public Employees Retirement System of Ohio increased its stake in Herman Miller by 4.9% in 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 during the period. Finally, Sei Investments Co. increased its stake in Herman Miller by 0.6% in 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 during the period. Institutional investors own 83.96% of the company’s stock.

In related news, CEO Brian C. Walker sold 56,050 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $33.59, for a total value of $1,882,719.50. Following the sale, the chief executive officer now owns 164,929 shares in the company, valued at approximately $5,539,965.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew J. Lock sold 19,247 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $33.47, for a total value of $644,197.09. Following the completion of the sale, the insider now owns 24,354 shares in the company, valued at approximately $815,128.38. The disclosure for this sale can be found here. Insiders sold a total of 171,256 shares of company stock worth $5,778,618 in the last quarter. Company insiders own 1.91% of the company’s stock.

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A number of analysts have weighed in on the company. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, September 26th. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Sidoti assumed coverage on Herman Miller in a research note 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 stock. Herman Miller currently has an average rating of “Hold” and an average target price of $38.00.

Herman Miller, Inc. (NASDAQ:MLHR) opened at 35.90 on Friday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 17.95 and a beta of 1.44. The stock’s 50 day moving average price is $33.52 and its 200 day moving average price is $32.35. 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 the Thomson Reuters’ consensus estimate of $0.57. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The business had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. During the same quarter in the prior year, the company posted $0.60 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts forecast that Herman Miller, Inc. will post $2.29 earnings per share for the current year.

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

Herman Miller Company Profile

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

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