Vident Investment Advisory LLC purchased a new position in shares of Herman Miller, Inc. (NASDAQ:MLHR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 82,294 shares of the business services provider’s stock, valued at approximately $2,954,000. Vident Investment Advisory LLC owned about 0.14% of Herman Miller as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royce & Associates LP raised its position in shares of Herman Miller by 50.2% during the 2nd quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock worth $72,108,000 after purchasing an additional 793,188 shares during the last quarter. State Street Corp raised its position in shares of Herman Miller by 3.5% during the 2nd quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock worth $61,971,000 after purchasing an additional 68,974 shares during the last quarter. LSV Asset Management raised its position in shares of Herman Miller by 15.1% during the 2nd quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock worth $57,456,000 after purchasing an additional 247,300 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Herman Miller by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,603,814 shares of the business services provider’s stock worth $57,576,000 after purchasing an additional 40,467 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Herman Miller by 31.8% during the 3rd quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock worth $55,871,000 after purchasing an additional 375,520 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

In related news, CEO Brian C. Walker sold 14,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $34.80, for a total transaction of $487,200.00. Following the completion of the sale, the chief executive officer now owns 160,979 shares of the company’s stock, valued at approximately $5,602,069.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael F. Ramirez sold 4,091 shares of the stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $33.98, for a total transaction of $139,012.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,789 shares of company stock valued at $2,955,741. 1.91% of the stock is owned by corporate insiders.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) opened at $34.20 on Monday. Herman Miller, Inc. has a one year low of $28.55 and a one year high of $37.00. The stock has a market cap of $2,050.00, a PE ratio of 15.98 and a beta of 1.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 1.30.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The company had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. During the same quarter in the prior year, the company earned $0.60 EPS. Herman Miller’s revenue was down 3.1% compared to the same quarter last year. equities analysts expect that Herman Miller, Inc. will post 2.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be paid 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 yield of 2.11%. Herman Miller’s dividend payout ratio is presently 36.18%.

Several research firms recently weighed in on MLHR. BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.00.

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About Herman Miller

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

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