Nisa Investment Advisors LLC Reduces Position in Miller Industries, Inc. (NYSE:MLR)

Nisa Investment Advisors LLC lessened its position in shares of Miller Industries, Inc. (NYSE:MLR) by 51.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 467 shares of the auto parts company’s stock after selling 487 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Miller Industries were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Narwhal Capital Management grew its stake in Miller Industries by 31.2% during the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock worth $6,928,000 after buying an additional 26,983 shares during the last quarter. Ellsworth Advisors LLC grew its stake in Miller Industries by 3.6% during the 3rd quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock worth $722,000 after buying an additional 411 shares during the last quarter. Lakewood Asset Management LLC purchased a new position in Miller Industries during the 3rd quarter worth approximately $250,000. SG Americas Securities LLC grew its stake in Miller Industries by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock worth $314,000 after buying an additional 2,364 shares during the last quarter. Finally, Point72 DIFC Ltd grew its stake in Miller Industries by 146.9% during the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Trading Up 0.3 %

Shares of MLR stock opened at $75.04 on Friday. The business’s 50 day moving average is $62.74 and its two-hundred day moving average is $59.86. Miller Industries, Inc. has a twelve month low of $38.33 and a twelve month high of $76.74. The company has a market capitalization of $859.21 million, a P/E ratio of 12.06 and a beta of 0.94. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. The company had revenue of $371.45 million for the quarter. Equities analysts forecast that Miller Industries, Inc. will post 5.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MLR shares. DA Davidson started coverage on Miller Industries in a research note on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price target on the stock. StockNews.com downgraded Miller Industries from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.