CW Advisors LLC Boosts Stock Position in Miller Industries, Inc. $MLR

CW Advisors LLC grew its holdings in Miller Industries, Inc. (NYSE:MLR) by 228.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,125 shares of the auto parts company’s stock after purchasing an additional 16,075 shares during the period. CW Advisors LLC’s holdings in Miller Industries were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MLR. Public Employees Retirement System of Ohio grew its holdings in shares of Miller Industries by 1,842.0% in the second quarter. Public Employees Retirement System of Ohio now owns 1,709 shares of the auto parts company’s stock worth $76,000 after purchasing an additional 1,621 shares during the last quarter. AlphaQuest LLC boosted its position in Miller Industries by 230.3% in the 1st quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company’s stock valued at $84,000 after buying an additional 1,384 shares during the period. Strs Ohio bought a new position in Miller Industries in the 1st quarter worth about $182,000. SG Americas Securities LLC purchased a new position in shares of Miller Industries during the second quarter worth approximately $207,000. Finally, Walleye Capital LLC bought a new stake in shares of Miller Industries during the first quarter valued at approximately $229,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MLR has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Miller Industries in a research note on Monday, December 1st. Zacks Research raised Miller Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, Loop Capital set a $46.00 price target on Miller Industries in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Miller Industries Stock Down 2.1%

Shares of NYSE MLR opened at $37.37 on Tuesday. Miller Industries, Inc. has a 12-month low of $33.81 and a 12-month high of $74.43. The stock’s fifty day simple moving average is $39.20 and its two-hundred day simple moving average is $41.64. The stock has a market capitalization of $427.08 million, a PE ratio of 14.37 and a beta of 1.26. The company has a current ratio of 3.46, a quick ratio of 2.13 and a debt-to-equity ratio of 0.11.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Wednesday, November 5th. The auto parts company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.02 by $0.25. Miller Industries had a return on equity of 7.32% and a net margin of 3.59%.The firm had revenue of $178.67 million during the quarter, compared to analyst estimates of $177.55 million. As a group, analysts expect that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, December 2nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Miller Industries’s payout ratio is presently 30.77%.

Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.