Herman Miller, Inc. (NASDAQ:MLHR) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,157 shares of the business services provider’s stock after selling 8,312 shares during the period. Allianz Asset Management GmbH owned approximately 0.11% of Herman Miller worth $2,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. New York State Common Retirement Fund lifted its stake in shares of Herman Miller by 3.6% in the 4th quarter. New York State Common Retirement Fund now owns 86,238 shares of the business services provider’s stock valued at $2,915,000 after purchasing an additional 3,000 shares during the period. Royce & Associates LP lifted its stake in shares of Herman Miller by 177.8% in the 1st quarter. Royce & Associates LP now owns 221,934 shares of the business services provider’s stock valued at $9,133,000 after purchasing an additional 142,056 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of Herman Miller in the 1st quarter valued at $15,245,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Herman Miller by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 681,931 shares of the business services provider’s stock valued at $23,050,000 after purchasing an additional 44,942 shares during the period. Finally, Strs Ohio lifted its stake in shares of Herman Miller by 63.8% in the 1st quarter. Strs Ohio now owns 202,900 shares of the business services provider’s stock valued at $8,349,000 after purchasing an additional 79,000 shares during the period. Institutional investors and hedge funds own 81.74% of the company’s stock.

Several equities analysts recently issued reports on the stock. Craig Hallum assumed coverage on shares of Herman Miller in a research note on Monday, May 10th. They issued a “buy” rating and a $60.00 target price for the company. Berenberg Bank began coverage on shares of Herman Miller in a research report on Tuesday, May 11th. They set a “buy” rating and a $62.00 price objective for the company.

Herman Miller stock opened at $48.25 on Friday. Herman Miller, Inc. has a 52-week low of $20.56 and a 52-week high of $51.24. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -344.62 and a beta of 1.34. The business’s fifty day simple moving average is $45.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.74 and a quick ratio of 1.34.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Saturday, May 29th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, May 27th.

Herman Miller Profile

Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services worldwide. The company offers seating products under the Embody, Aeron, Mirra2, Setu, Sayl, Verus, Cosm, Lino, Verus, Celle, Equa, Taper, and Ergon names; and modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, Prospect, Overlay, and Resolve names.

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

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