Shelton Capital Management Has $825,000 Stake in Herman Miller, Inc. (MLHR)

Shelton Capital Management reduced its position in Herman Miller, Inc. (NASDAQ:MLHR) by 35.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,124 shares of the business services provider’s stock after selling 14,876 shares during the period. Shelton Capital Management’s holdings in Herman Miller were worth $825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. increased its stake in Herman Miller by 0.6% in the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 26 shares in the last quarter. Ronald Blue & Co. LLC increased its position in Herman Miller by 1.4% during the second quarter. Ronald Blue & Co. LLC now owns 6,787 shares of the business services provider’s stock worth $206,000 after buying an additional 91 shares in the last quarter. First Bank & Trust increased its position in Herman Miller by 4.1% during the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock worth $121,000 after buying an additional 158 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Herman Miller by 4.9% during the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after buying an additional 181 shares in the last quarter. Finally, Advantus Capital Management Inc increased its position in Herman Miller by 2.9% during the first quarter. Advantus Capital Management Inc now owns 7,670 shares of the business services provider’s stock worth $242,000 after buying an additional 216 shares in the last quarter. 83.96% of the stock is owned by hedge funds and other institutional investors.

Herman Miller, Inc. (NASDAQ:MLHR) opened at 35.75 on Tuesday. The company has a 50-day moving average price of $34.71 and a 200-day moving average price of $32.96. Herman Miller, Inc. has a one year low of $27.03 and a one year high of $37.00. The firm has a market cap of $2.14 billion, a PE ratio of 17.88 and a beta of 1.46.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Thursday, September 21st. The business services provider reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $580.30 million during the quarter, compared to the consensus estimate of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. Herman Miller’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. Equities analysts predict that Herman Miller, Inc. will post $2.27 earnings per share for the current fiscal year.

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In other Herman Miller news, SVP Hezron T. Lopez sold 2,312 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $33.96, for a total value of $78,515.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory J. Bylsma sold 9,435 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $33.88, for a total transaction of $319,657.80. Following the completion of the sale, the insider now directly owns 42,534 shares of the company’s stock, valued at approximately $1,441,051.92. The disclosure for this sale can be found here. Insiders have sold a total of 140,204 shares of company stock valued at $4,766,225 in the last ninety days. 1.91% of the stock is currently owned by insiders.

Several equities analysts have weighed in on MLHR shares. ValuEngine raised Herman Miller from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Sidoti assumed coverage on Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target for the company. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 26th. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.00.

Herman Miller Profile

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

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