Tudor Investment Corp ET AL Purchases New Stake in Miller Industries, Inc. $MLR

Tudor Investment Corp ET AL acquired a new stake in shares of Miller Industries, Inc. (NYSE:MLR) during the third quarter, Holdings Channel reports. The fund acquired 39,540 shares of the auto parts company’s stock, valued at approximately $1,598,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC increased its holdings in Miller Industries by 24.3% in the third quarter. Pacific Ridge Capital Partners LLC now owns 121,261 shares of the auto parts company’s stock valued at $4,901,000 after buying an additional 23,683 shares during the last quarter. Citigroup Inc. lifted its holdings in Miller Industries by 219.6% during the 3rd quarter. Citigroup Inc. now owns 63,227 shares of the auto parts company’s stock worth $2,556,000 after buying an additional 43,444 shares during the last quarter. RBF Capital LLC bought a new position in Miller Industries during the 2nd quarter worth approximately $1,272,000. CW Advisors LLC grew its position in shares of Miller Industries by 228.0% in the 2nd quarter. CW Advisors LLC now owns 23,125 shares of the auto parts company’s stock worth $1,028,000 after acquiring an additional 16,075 shares in the last quarter. Finally, Invenomic Capital Management LP acquired a new position in shares of Miller Industries in the 3rd quarter worth approximately $4,442,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on MLR. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Monday, December 29th. Zacks Research downgraded shares of Miller Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 10th. Loop Capital set a $44.00 target price on shares of Miller Industries in a research note on Monday, March 9th. Finally, DA Davidson increased their target price on shares of Miller Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, March 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.50.

Miller Industries Stock Performance

Shares of MLR stock opened at $45.05 on Monday. The company has a market cap of $512.22 million, a P/E ratio of 22.75 and a beta of 1.25. The business has a 50 day moving average of $43.34 and a two-hundred day moving average of $40.56. Miller Industries, Inc. has a 52 week low of $33.81 and a 52 week high of $48.94. The company has a quick ratio of 1.87, a current ratio of 3.22 and a debt-to-equity ratio of 0.07.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, March 4th. The auto parts company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.26. The business had revenue of $171.92 million for the quarter, compared to analysts’ expectations of $164.20 million. Miller Industries had a return on equity of 5.52% and a net margin of 2.92%. As a group, analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 16th were given a $0.21 dividend. This is a boost from Miller Industries’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, March 16th. Miller Industries’s dividend payout ratio is 42.42%.

About Miller Industries

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.