Shelton Capital Management reduced its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 35.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,124 shares of the business services provider’s stock after selling 14,876 shares during the period. Shelton Capital Management’s holdings in Herman Miller were worth $825,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MLHR. Riverhead Capital Management LLC boosted its holdings in shares of 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 during the period. First Bank & Trust boosted its holdings in shares of 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 during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of 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 during the period. Sei Investments Co. boosted its holdings in shares of 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 during the period. Finally, LS Investment Advisors LLC boosted its holdings in shares of 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 during the period. Institutional investors own 83.96% of the company’s stock.

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In other Herman Miller news, insider Andrew J. Lock sold 19,247 shares of the business’s stock in a transaction dated 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 directly owns 24,354 shares of the company’s stock, valued at approximately $815,128.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian C. Walker sold 56,050 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were 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 $5,539,965.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,942 shares of company stock valued at $6,163,421. 1.91% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on MLHR. Zacks Investment Research upgraded 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. Sidoti began coverage on shares of Herman Miller in a report on Tuesday, June 27th. They set a “buy” rating and a $38.00 target price for the company. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Finally, BidaskClub upgraded shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.00.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) opened at 35.45 on Friday. Herman Miller, Inc. has a one year low of $26.99 and a one year high of $37.00. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.73 and a beta of 1.46. The firm has a 50-day moving average of $34.29 and a 200 day moving average of $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 (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $580.30 million during the quarter, compared to analysts’ expectations of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts predict that Herman Miller, Inc. will post $2.27 EPS for the current year.

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

About Herman Miller

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

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