New York State Teachers Retirement System increased its holdings in Herman Miller, Inc. (NASDAQ:MLHR) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,691 shares of the business services provider’s stock after acquiring an additional 5,700 shares during the quarter. New York State Teachers Retirement System owned about 0.21% of Herman Miller worth $4,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in MLHR. BlackRock Inc. raised its holdings in Herman Miller by 22,901.9% in the first quarter. BlackRock Inc. now owns 6,090,451 shares of the business services provider’s stock worth $192,154,000 after purchasing an additional 6,063,973 shares in the last quarter. Royce & Associates LP raised its holdings in Herman Miller by 50.2% in the second 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 in the last quarter. Van Berkom & Associates Inc. raised its holdings in Herman Miller by 23.6% in the second quarter. Van Berkom & Associates Inc. now owns 1,543,957 shares of the business services provider’s stock worth $46,936,000 after purchasing an additional 294,356 shares in the last quarter. LSV Asset Management raised its holdings in Herman Miller by 15.1% in the second 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 in the last quarter. Finally, 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. 83.47% of the stock is owned by institutional investors.

In related news, CEO Brian C. Walker sold 14,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $32.73, for a total transaction of $458,220.00. Following the sale, the chief executive officer now directly owns 160,979 shares of the company’s stock, valued at $5,268,842.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael F. Ramirez sold 4,091 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $33.98, for a total value of $139,012.18. The disclosure for this sale can be found here. Insiders have sold 86,407 shares of company stock valued at $2,980,652 over the last 90 days. Corporate insiders own 1.91% of the company’s stock.

MLHR has been the subject of several analyst reports. 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 target 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Herman Miller presently has a consensus rating of “Hold” and a consensus target price of $38.00.

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Herman Miller, Inc. (NASDAQ:MLHR) opened at $32.90 on Friday. Herman Miller, Inc. has a twelve month low of $28.55 and a twelve month high of $37.00. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1,966.70, a price-to-earnings ratio of 15.37 and a beta of 1.46.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The firm had revenue of $580.30 million during the quarter, compared to the consensus estimate of $578.27 million. During the same period last year, the company earned $0.60 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. sell-side analysts anticipate that Herman Miller, Inc. will post 2.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.19%. Herman Miller’s payout ratio is presently 36.00%.

Herman Miller Profile

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

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