First Wilshire Securities Management Inc. Purchases 271,136 Shares of Miller Industries, Inc. $MLR

First Wilshire Securities Management Inc. increased its position in Miller Industries, Inc. (NYSE:MLR) by 980.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298,801 shares of the auto parts company’s stock after purchasing an additional 271,136 shares during the quarter. Miller Industries makes up about 2.8% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 11th biggest position. First Wilshire Securities Management Inc. owned approximately 2.61% of Miller Industries worth $11,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLR. AQR Capital Management LLC grew its stake in Miller Industries by 41.9% in the first quarter. AQR Capital Management LLC now owns 13,019 shares of the auto parts company’s stock worth $552,000 after purchasing an additional 3,846 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Miller Industries by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock worth $281,000 after purchasing an additional 312 shares in the last quarter. Millennium Management LLC lifted its holdings in Miller Industries by 855.1% during the first quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company’s stock worth $6,649,000 after buying an additional 140,500 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Miller Industries by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock worth $12,160,000 after buying an additional 112,925 shares during the period. Finally, Strs Ohio purchased a new stake in Miller Industries during the first quarter worth $182,000. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Performance

Shares of MLR opened at $48.95 on Friday. Miller Industries, Inc. has a 12 month low of $33.81 and a 12 month high of $49.89. The stock has a fifty day moving average price of $47.47 and a 200-day moving average price of $43.45. The company has a current ratio of 2.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The firm has a market cap of $557.86 million, a PE ratio of 36.53 and a beta of 1.11.

Miller Industries (NYSE:MLR) last posted its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Miller Industries had a return on equity of 3.70% and a net margin of 2.08%.The firm had revenue of $180.86 million during the quarter, compared to analyst estimates of $181.10 million. Equities research analysts predict that Miller Industries, Inc. will post 1.9 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Miller Industries’s dividend payout ratio (DPR) is 62.69%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MLR shares. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a report on Friday, March 27th. Loop Capital set a $44.00 target price on Miller Industries in a report on Monday, March 9th. DA Davidson upped their target price on Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Zacks Research lowered Miller Industries from a “hold” rating to a “strong sell” rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.00.

Miller Industries Profile

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.