Brandywine Global Investment Management LLC reduced its stake in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,108 shares of the business services provider’s stock after selling 12,352 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Herman Miller were worth $8,576,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its position in Herman Miller by 3.2% during the 4th quarter. BlackRock Inc. now owns 6,323,198 shares of the business services provider’s stock valued at $253,243,000 after purchasing an additional 195,666 shares during the period. LSV Asset Management grew its position in shares of Herman Miller by 8.1% in the 4th quarter. LSV Asset Management now owns 2,341,157 shares of the business services provider’s stock worth $93,763,000 after buying an additional 174,996 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Herman Miller by 2.6% in 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 buying an additional 40,467 shares during the period. Prudential Financial Inc. grew its position in shares of Herman Miller by 31.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock worth $55,871,000 after buying an additional 375,520 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Herman Miller by 0.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,430,707 shares of the business services provider’s stock worth $57,300,000 after buying an additional 6,177 shares during the period. 82.72% of the stock is currently owned by institutional investors and hedge funds.

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MLHR has been the topic of a number of recent research reports. Raymond James Financial raised shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a research report on Tuesday, December 26th. BidaskClub raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Friday, December 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.67.

In related news, CEO Brian C. Walker sold 125,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $37.98, for a total value of $4,747,500.00. Following the transaction, the chief executive officer now owns 20,701 shares in the company, valued at approximately $786,223.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kevin J. Veltman sold 1,190 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total transaction of $47,933.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,202 shares of company stock worth $10,111,655. 1.91% of the stock is currently owned by company insiders.

Shares of Herman Miller, Inc. (NASDAQ MLHR) opened at $37.45 on Thursday. The firm has a market cap of $2,294.32, a PE ratio of 18.54 and a beta of 1.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 0.89. Herman Miller, Inc. has a 1 year low of $28.55 and a 1 year high of $41.85.

Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The firm had revenue of $604.60 million for the quarter, compared to the consensus estimate of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. research analysts anticipate that Herman Miller, Inc. will post 2.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Saturday, March 3rd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, March 1st. Herman Miller’s dividend payout ratio is presently 35.64%.

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Herman Miller Profile

Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.

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

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