Azarias Capital Management L.P. Grows Position in Miller Industries, Inc. $MLR

Azarias Capital Management L.P. boosted its position in Miller Industries, Inc. (NYSE:MLR) by 175.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,426 shares of the auto parts company’s stock after purchasing an additional 70,379 shares during the quarter. Miller Industries makes up 2.3% of Azarias Capital Management L.P.’s portfolio, making the stock its 18th biggest position. Azarias Capital Management L.P.’s holdings in Miller Industries were worth $5,030,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Empowered Funds LLC boosted its holdings in Miller Industries by 37.8% in the fourth quarter. Empowered Funds LLC now owns 38,370 shares of the auto parts company’s stock worth $1,434,000 after acquiring an additional 10,529 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Miller Industries during the fourth quarter valued at $526,000. Tudor Investment Corp ET AL raised its position in shares of Miller Industries by 17.5% in the 4th quarter. Tudor Investment Corp ET AL now owns 46,446 shares of the auto parts company’s stock worth $1,736,000 after purchasing an additional 6,906 shares during the last quarter. Millennium Management LLC raised its position in shares of Miller Industries by 61.8% in the 4th quarter. Millennium Management LLC now owns 157,016 shares of the auto parts company’s stock worth $5,868,000 after purchasing an additional 59,963 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its stake in Miller Industries by 0.7% in the 4th quarter. Invenomic Capital Management LP now owns 110,707 shares of the auto parts company’s stock worth $4,137,000 after purchasing an additional 807 shares in the last quarter. Institutional investors own 79.24% of the company’s stock.

Analyst Ratings Changes

MLR has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Friday, March 27th. DA Davidson upped their target price on shares of Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Zacks Research cut shares of Miller Industries from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. Finally, Loop Capital set a $44.00 price target on shares of Miller Industries in a research report on Monday, March 9th. One research 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Miller Industries Trading Down 0.3%

Miller Industries stock opened at $49.64 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.98 and a quick ratio of 1.78. Miller Industries, Inc. has a one year low of $33.81 and a one year high of $50.19. The stock has a market capitalization of $565.94 million, a PE ratio of 37.05 and a beta of 1.11. The business’s fifty day moving average is $47.84 and its 200 day moving average is $43.91.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 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 business had revenue of $180.86 million during the quarter, compared to the consensus estimate of $181.10 million. On average, sell-side analysts predict that Miller Industries, Inc. will post 1.9 EPS for the current year.

Miller Industries Dividend Announcement

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

Miller Industries Company 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.