Deprince Race & Zollo Inc. Reduces Position in Herman Miller, Inc. (MLHR)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Riverhead Capital Management LLC grew its position in 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 worth $112,000 after purchasing an additional 1,494 shares during the period. First Bank & Trust boosted its stake 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 worth $121,000 after acquiring an additional 158 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake 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 worth $123,000 after acquiring an additional 181 shares in the last quarter. Sei Investments Co. boosted its stake 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 worth $135,000 after acquiring an additional 26 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake 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 worth $146,000 after acquiring an additional 714 shares in the last quarter. 82.40% of the stock is currently owned by institutional investors.

MLHR has been the topic of several recent analyst reports. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, September 26th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Herman Miller currently has an average rating of “Hold” and a consensus price target of $38.00.

Shares of Herman Miller, Inc. (NASDAQ:MLHR) traded down $0.05 during trading on Monday, reaching $34.50. 304,074 shares of the company were exchanged, compared to its average volume of 386,191. The stock has a market cap of $2,065.34, a price-to-earnings ratio of 16.15 and a beta of 1.48. Herman Miller, Inc. has a 1 year low of $28.55 and a 1 year high of $37.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.30 and a quick ratio of 0.86.

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 Zacks’ 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 for the quarter, compared to analyst estimates of $578.27 million. During the same period last year, the company posted $0.60 EPS. Herman Miller’s quarterly revenue was down 3.1% compared to the same quarter last year. equities analysts anticipate that Herman Miller, Inc. will post 2.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Saturday, December 2nd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, November 30th. Herman Miller’s dividend payout ratio (DPR) is 36.00%.

In other Herman Miller news, SVP Stephen C. Gane sold 10,686 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $36.01, for a total value of $384,802.86. Following the transaction, the senior vice president now directly owns 21,985 shares of the company’s stock, valued at approximately $791,679.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hezron T. Lopez sold 5,353 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $34.85, for a total transaction of $186,552.05. Following the sale, the senior vice president now owns 5,353 shares of the company’s stock, valued at approximately $186,552.05. The disclosure for this sale can be found here. Insiders sold a total of 85,789 shares of company stock worth $2,955,741 over the last three months. Corporate insiders own 1.91% of the company’s stock.

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Herman Miller Profile

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

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