Cigna Investments Inc. New lifted its position in shares of Herman Miller, Inc. (NASDAQ:MLHR) by 9.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,925 shares of the business services provider’s stock after acquiring an additional 1,350 shares during the period. Cigna Investments Inc. New’s holdings in Herman Miller were worth $561,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Herman Miller in the 4th quarter valued at about $35,508,000. Geode Capital Management LLC lifted its holdings in Herman Miller by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 887,738 shares of the business services provider’s stock valued at $26,853,000 after acquiring an additional 60,758 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Herman Miller by 289.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 470,695 shares of the business services provider’s stock valued at $16,559,000 after acquiring an additional 349,830 shares during the last quarter. Deutsche Bank AG lifted its holdings in Herman Miller by 25.0% in the 4th quarter. Deutsche Bank AG now owns 431,910 shares of the business services provider’s stock valued at $13,064,000 after acquiring an additional 86,292 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Herman Miller by 1,444.6% in the 1st quarter. Victory Capital Management Inc. now owns 398,813 shares of the business services provider’s stock valued at $14,030,000 after acquiring an additional 372,994 shares during the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.

In related news, SVP Jeffrey L. Kurburski sold 3,108 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $39.32, for a total value of $122,206.56. Following the transaction, the senior vice president now owns 9,557 shares in the company, valued at $375,781.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory J. Bylsma sold 9,048 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $34.98, for a total value of $316,499.04. Following the completion of the transaction, the insider now owns 37,134 shares in the company, valued at approximately $1,298,947.32. The disclosure for this sale can be found here. Insiders have sold 17,392 shares of company stock valued at $642,857 over the last ninety days. Insiders own 1.05% of the company’s stock.

MLHR has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Finally, Sidoti lowered shares of Herman Miller from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Herman Miller presently has a consensus rating of “Hold” and an average target price of $39.50.

MLHR stock opened at $35.49 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.39. Herman Miller, Inc. has a one year low of $28.66 and a one year high of $40.65. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 15.43 and a beta of 1.48.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, March 20th. The business services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Herman Miller had a net margin of 5.81% and a return on equity of 23.88%. The company had revenue of $619.00 million during the quarter, compared to analyst estimates of $622.43 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that Herman Miller, Inc. will post 2.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Saturday, June 1st will be paid a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, May 30th. Herman Miller’s dividend payout ratio is presently 34.35%.

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About Herman Miller

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 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.

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

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