Deprince Race & Zollo Inc. Purchases Shares of 58,140 Miller Industries, Inc. $MLR

Deprince Race & Zollo Inc. acquired a new stake in Miller Industries, Inc. (NYSE:MLR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 58,140 shares of the auto parts company’s stock, valued at approximately $2,648,000. Deprince Race & Zollo Inc. owned 0.51% of Miller Industries at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of Miller Industries by 200.0% in the 4th quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 604 shares during the period. EverSource Wealth Advisors LLC increased its position in Miller Industries by 66.5% during the second quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock worth $37,000 after buying an additional 329 shares during the last quarter. Russell Investments Group Ltd. increased its position in Miller Industries by 736.0% during the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock worth $46,000 after buying an additional 1,001 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Miller Industries in the second quarter valued at approximately $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Miller Industries in the third quarter valued at approximately $159,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research note on Wednesday, June 24th. Zacks Research lowered shares of Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Loop Capital set a $44.00 price target on Miller Industries in a report on Monday, March 9th. Finally, DA Davidson boosted their price target on Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Miller Industries Stock Performance

Shares of NYSE:MLR opened at $49.20 on Friday. The company’s 50 day moving average price is $48.41 and its two-hundred day moving average price is $44.72. Miller Industries, Inc. has a 12-month low of $33.81 and a 12-month high of $52.93. The firm has a market cap of $560.83 million, a PE ratio of 36.71 and a beta of 1.10. The company has a quick ratio of 1.78, a current ratio of 2.98 and a debt-to-equity ratio of 0.05.

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

Miller Industries Announces Dividend

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

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.