Commerce Bank Has $348,000 Stock Position in Miller Industries, Inc. (NYSE:MLR)

Commerce Bank cut its position in Miller Industries, Inc. (NYSE:MLR) by 18.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,700 shares of the auto parts company’s stock after selling 1,314 shares during the quarter. Commerce Bank’s holdings in Miller Industries were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Royce & Associates LP grew its position in Miller Industries by 12.9% in the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock worth $30,288,000 after purchasing an additional 56,578 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Miller Industries by 1.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company’s stock valued at $8,500,000 after acquiring an additional 1,722 shares in the last quarter. AdvisorShares Investments LLC lifted its position in shares of Miller Industries by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after acquiring an additional 9,384 shares during the period. Narwhal Capital Management grew its holdings in shares of 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 purchasing an additional 26,983 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Miller Industries by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 100,538 shares of the auto parts company’s stock valued at $5,532,000 after purchasing an additional 1,253 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of Miller Industries in a report on Friday, November 15th.

Miller Industries Trading Up 0.9 %

MLR stock opened at $74.35 on Wednesday. Miller Industries, Inc. has a 1-year low of $38.33 and a 1-year high of $78.25. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $65.68 and its 200-day moving average is $61.52. The firm has a market cap of $850.56 million, a P/E ratio of 12.33 and a beta of 0.94.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.33. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. The firm had revenue of $314.27 million during the quarter. During the same quarter in the prior year, the company earned $1.52 earnings per share. Equities analysts anticipate that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be given a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

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.