Herman Miller (NASDAQ:MLHR) Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. cut its holdings in shares of Herman Miller (NASDAQ:MLHR) by 43.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,249 shares of the business services provider’s stock after selling 33,099 shares during the period. Clark Capital Management Group Inc. owned 0.07% of Herman Miller worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Prudential Financial Inc. raised 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 valued at $55,871,000 after acquiring an additional 375,520 shares during the period. Millennium Management LLC raised its holdings in Herman Miller by 96.5% during the 4th quarter. Millennium Management LLC now owns 506,581 shares of the business services provider’s stock worth $20,289,000 after buying an additional 248,806 shares during the period. BlackRock Inc. raised its holdings 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 worth $253,243,000 after buying an additional 195,666 shares during the period. LSV Asset Management raised its holdings in Herman Miller by 8.1% during 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. Finally, Guggenheim Capital LLC raised its holdings in Herman Miller by 305.5% during the 4th quarter. Guggenheim Capital LLC now owns 213,203 shares of the business services provider’s stock worth $8,541,000 after buying an additional 160,623 shares during the period. Institutional investors own 82.74% of the company’s stock.

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Shares of MLHR traded down $0.55 during mid-day trading on Friday, hitting $32.05. 382,351 shares of the company’s stock were exchanged, compared to its average volume of 575,956. Herman Miller has a 52 week low of $29.25 and a 52 week high of $41.85. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $1,912.42, a P/E ratio of 14.84 and a beta of 1.40.

Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, March 21st. The business services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. Herman Miller had a net margin of 5.55% and a return on equity of 22.26%. The business had revenue of $578.40 million during the quarter, compared to analysts’ expectations of $573.30 million. During the same period last year, the business earned $0.39 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. sell-side analysts anticipate that Herman Miller will post 2.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Saturday, March 3rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.72 annualized dividend and a dividend yield of 2.25%. Herman Miller’s dividend payout ratio is presently 33.33%.

In related news, SVP Stephen C. Gane sold 8,781 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $41.00, for a total value of $360,021.00. Following the completion of the transaction, the senior vice president now directly owns 2,536 shares of the company’s stock, valued at $103,976. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Stephen C. Gane sold 8,601 shares of Herman Miller stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $41.00, for a total transaction of $352,641.00. Following the transaction, the senior vice president now directly owns 11,366 shares of the company’s stock, valued at $466,006. The disclosure for this sale can be found here. Insiders sold 232,582 shares of company stock valued at $8,732,673 over the last three months. 1.91% of the stock is owned by company insiders.

Several analysts have commented on MLHR shares. Raymond James Financial upgraded 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 report on Tuesday, December 26th. Zacks Investment Research downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. BidaskClub upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. Finally, ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.67.

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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.

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

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