Miller Industries, Inc. (NYSE:MLR) Short Interest Update

Miller Industries, Inc. (NYSE:MLR) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 303,100 shares, an increase of 52.2% from the August 31st total of 199,100 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 99,600 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MLR. Point72 DIFC Ltd lifted its position in Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 595 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Miller Industries by 2.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock valued at $452,000 after purchasing an additional 201 shares during the period. Algert Global LLC bought a new stake in shares of Miller Industries in the 2nd quarter worth $353,000. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Miller Industries by 18.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 10,345 shares of the auto parts company’s stock valued at $569,000 after buying an additional 1,578 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Miller Industries by 215.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,942 shares of the auto parts company’s stock valued at $712,000 after buying an additional 8,840 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th.

Miller Industries Stock Performance

Miller Industries stock traded up $1.35 during mid-day trading on Friday, hitting $61.00. 6,255 shares of the company’s stock traded hands, compared to its average volume of 74,447. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. Miller Industries has a one year low of $34.96 and a one year high of $69.75. The firm has a 50 day moving average price of $60.90 and a 200 day moving average price of $56.58. The company has a market cap of $699.67 million, a PE ratio of 10.41 and a beta of 0.96.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. The business had revenue of $371.45 million for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%.

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, September 9th. Miller Industries’s dividend payout ratio (DPR) is presently 13.26%.

About Miller Industries

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.