Miller Industries, Inc. (NYSE:MLR) Stake Cut by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in Miller Industries, Inc. (NYSE:MLR) by 39.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,400 shares of the auto parts company’s stock after selling 27,271 shares during the quarter. Renaissance Technologies LLC’s holdings in Miller Industries were worth $2,278,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in shares of Miller Industries in the 2nd quarter worth about $39,000. EntryPoint Capital LLC lifted its holdings in Miller Industries by 101.3% in the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after acquiring an additional 913 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new position in Miller Industries in the fourth quarter valued at approximately $107,000. Quest Partners LLC acquired a new position in Miller Industries in the second quarter valued at approximately $200,000. Finally, Virtu Financial LLC bought a new position in shares of Miller Industries during the fourth quarter valued at approximately $233,000. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Performance

Shares of MLR opened at $59.92 on Wednesday. The firm has a fifty day moving average of $60.78 and a 200-day moving average of $56.88. The company has a market cap of $687.28 million, a price-to-earnings ratio of 10.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. Miller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $69.75.

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

Miller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, September 9th. Miller Industries’s dividend payout ratio (DPR) is 13.26%.

Wall Street Analysts Forecast Growth

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

Miller Industries 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.