Is Herman Miller Inc (NASDAQ:MLHR)’s Fuel Running High? Reports Show Less Sellers

March 21, 2018 - By Marguerite Chambers

 Is Herman Miller Inc (NASDAQ:MLHR)’s Fuel Running High? Reports Show Less Sellers

Investors sentiment increased to 1.36 in Q3 2017. Its up 0.07, from 1.29 in 2017Q2. It increased, as 15 investors sold Herman Miller, Inc. shares while 68 reduced holdings. 37 funds opened positions while 76 raised stakes. 47.85 million shares or 1.06% less from 48.36 million shares in 2017Q2 were reported.
Robeco Institutional Asset Mgmt Bv has invested 0.01% in Herman Miller, Inc. (NASDAQ:MLHR). Price T Rowe Assocs Md owns 40,017 shares. Alliancebernstein Limited Partnership holds 0% of its portfolio in Herman Miller, Inc. (NASDAQ:MLHR) for 95,759 shares. Weaver C Barksdale Incorporated stated it has 341 shares or 0.01% of all its holdings. Thrivent Fincl For Lutherans has 19,045 shares for 0% of their portfolio. Clearbridge Invs Ltd, a New York-based fund reported 216,608 shares. Martingale Asset Mgmt L P holds 0.08% in Herman Miller, Inc. (NASDAQ:MLHR) or 166,669 shares. 200 were reported by Johnson Financial Grp. Thompson Davis & Co Inc owns 200 shares or 0.01% of their US portfolio. Fny Managed Accounts Lc reported 0.02% in Herman Miller, Inc. (NASDAQ:MLHR). 22,500 were reported by Dekabank Deutsche Girozentrale. Texas Permanent School Fund stated it has 43,659 shares or 0.02% of all its holdings. Hsbc Public Limited Company reported 7,829 shares. Manufacturers Life The holds 130,448 shares. Teachers Retirement Of The State Of Kentucky accumulated 0.01% or 14,450 shares.

Since September 27, 2017, it had 0 insider purchases, and 11 insider sales for $8.78 million activity. WALKER BRIAN C sold 14,000 shares worth $495,356. The insider LOCK ANDREW J sold 24,277 shares worth $829,564. Veltman Kevin J. also sold $47,927 worth of Herman Miller, Inc. (NASDAQ:MLHR) shares. Another trade for 5,353 shares valued at $186,552 was made by Lopez Hezron T. on Wednesday, September 27. Ramirez Michael F. had sold 4,091 shares worth $139,000.

The stock of Herman Miller Inc (NASDAQ:MLHR) registered a decrease of 30.04% in short interest. MLHR’s total short interest was 620,600 shares in March as published by FINRA. Its down 30.04% from 887,100 shares, reported previously. With 346,300 shares average volume, it will take short sellers 2 days to cover their MLHR’s short positions. The short interest to Herman Miller Inc’s float is 1.05%.

The stock increased 0.40% or $0.15 during the last trading session, reaching $37.65. About 169,595 shares traded. Herman Miller, Inc. (NASDAQ:MLHR) has risen 6.46% since March 21, 2017 and is uptrending. It has underperformed by 10.24% the S&P500.

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 in the United States and internationally. The company has market cap of $2.25 billion. The firm provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names. It has a 18.64 P/E ratio. It also offers wood casegoods under the Geiger name; freestanding furniture products under the Abak, Intent, Sense, and Envelop names; and healthcare products under the Palisade, Compass, Nala, Ava, and Nemschoff names, as well as provides Thrive portfolio of ergonomic solutions and textiles, and data analytics solutions.

Herman Miller, Inc. (NASDAQ:MLHR) Ratings Coverage

Among 4 analysts covering Herman Miller (NASDAQ:MLHR), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Herman Miller has $43.0 highest and $3800 lowest target. $40.50’s average target is 7.57% above currents $37.65 stock price. Herman Miller had 6 analyst reports since December 18, 2015 according to SRatingsIntel. The stock has “Hold” rating by BB&T Capital on Friday, June 24. The firm has “Neutral” rating given on Friday, November 4 by Seaport Global. Raymond James downgraded Herman Miller, Inc. (NASDAQ:MLHR) on Tuesday, January 3 to “Underperform” rating. On Tuesday, December 26 the stock rating was upgraded by Raymond James to “Buy”. The rating was downgraded by Raymond James to “Mkt Perform” on Friday, December 18. The rating was initiated by Sidoti on Tuesday, June 27 with “Buy”.

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