Axa S.A. Lowers Holdings in Herman Miller, Inc. (NASDAQ:MLHR)

Axa S.A. decreased its stake in Herman Miller, Inc. (NASDAQ:MLHR) by 18.7% during the second quarter, Holdings Channel reports. The institutional investor owned 143,300 shares of the business services provider’s stock after selling 33,000 shares during the quarter. Axa S.A.’s holdings in Herman Miller were worth $6,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. boosted its position in Herman Miller by 72.9% during the second quarter. Rockefeller Capital Management L.P. now owns 631 shares of the business services provider’s stock worth $29,000 after purchasing an additional 266 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Herman Miller during the first quarter worth approximately $29,000. Pflug Koory LLC purchased a new position in Herman Miller during the second quarter worth approximately $45,000. Advisory Services Network LLC purchased a new position in Herman Miller during the second quarter worth approximately $71,000. Finally, William Blair Investment Management LLC purchased a new position in Herman Miller during the second quarter worth approximately $97,000. Institutional investors own 94.60% of the company’s stock.

Shares of Herman Miller stock opened at $36.96 on Thursday. The business has a 50 day simple moving average of $40.99 and a two-hundred day simple moving average of $43.62. Herman Miller, Inc. has a 12 month low of $30.22 and a 12 month high of $51.24. The stock has a market capitalization of $2.18 billion, a P/E ratio of 12.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.78 and a quick ratio of 1.35.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Tuesday, September 28th. The business services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.01). Herman Miller had a net margin of 7.03% and a return on equity of 24.38%. The firm had revenue of $789.70 million for the quarter, compared to analyst estimates of $648.20 million. During the same period in the previous year, the company earned $1.24 EPS. Herman Miller’s revenue was up 26.0% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Saturday, August 28th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, August 26th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.03%. Herman Miller’s payout ratio is currently 22.52%.

Separately, Benchmark lowered their price target on Herman Miller from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, September 27th.

In related news, Director Bruce Benedict Watson sold 12,099 shares of the stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $43.58, for a total value of $527,274.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeffrey L. Kurburski sold 4,446 shares of the stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $45.25, for a total value of $201,181.50. Following the completion of the sale, the chief technology officer now directly owns 11,532 shares of the company’s stock, valued at approximately $521,823. The disclosure for this sale can be found here. 1.19% of the stock is owned by corporate insiders.

About Herman Miller

Herman Miller, Inc engages in the research, design, manufacture, and distribution of interior furnishings for use in various environments including office, healthcare, educational, and residential settings. It operates through the following segments: North America Contract, International Contract, Retail, and Corporate.

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

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