Deprince Race & Zollo Inc. Sells 716,534 Shares of Herman Miller, Inc. (MLHR)

Deprince Race & Zollo Inc. reduced its holdings in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 94.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,801 shares of the business services provider’s stock after selling 716,534 shares during the period. Deprince Race & Zollo Inc. owned about 0.07% of Herman Miller worth $1,608,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Riverhead Capital Management LLC boosted its position in shares of Herman Miller by 67.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 1,494 shares in the last quarter. First Bank & Trust boosted its position in shares of Herman Miller by 4.1% during the 2nd quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 158 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Herman Miller by 4.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 181 shares in the last quarter. Sei Investments Co. boosted its position in shares of Herman Miller by 0.6% during the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 26 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Herman Miller by 17.5% during the 2nd quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock valued at $146,000 after acquiring an additional 714 shares in the last quarter. Institutional investors and hedge funds own 82.17% of the company’s stock.

Several analysts have recently weighed in on MLHR shares. 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 lowered shares of Herman Miller from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Herman Miller presently has a consensus rating of “Hold” and a consensus price target of $38.00.

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In related news, SVP Hezron T. Lopez sold 5,353 shares of Herman Miller stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $34.85, for a total transaction of $186,552.05. Following the completion of the transaction, the senior vice president now directly owns 5,353 shares of the company’s stock, valued at approximately $186,552.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian C. Walker sold 14,000 shares of Herman Miller stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $32.73, for a total transaction of $458,220.00. Following the transaction, the chief executive officer now directly owns 160,979 shares of the company’s stock, valued at $5,268,842.67. The disclosure for this sale can be found here. Insiders have sold a total of 99,789 shares of company stock valued at $3,413,961 over the last three months. 1.91% of the stock is currently owned by insiders.

Herman Miller, Inc. (NASDAQ:MLHR) opened at $34.15 on Friday. Herman Miller, Inc. has a 1-year low of $28.55 and a 1-year high of $37.00. The stock has a market cap of $2,041.42, a PE ratio of 15.96 and a beta of 1.46. The company has a current ratio of 1.30, a quick ratio of 0.86 and a debt-to-equity ratio of 0.33.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results 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 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 firm posted $0.60 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. equities analysts predict that Herman Miller, Inc. will post 2.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend 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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