Miller Industries, Inc. (NYSE:MLR) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in Miller Industries, Inc. (NYSE:MLR) by 90.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,856 shares of the auto parts company’s stock after purchasing an additional 22,274 shares during the period. BNP Paribas Financial Markets’ holdings in Miller Industries were worth $2,858,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Miller Industries by 10.2% during the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after acquiring an additional 71,231 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Miller Industries by 193.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company’s stock worth $5,670,000 after purchasing an additional 61,247 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Miller Industries by 12.9% in the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after purchasing an additional 56,578 shares during the last quarter. Millennium Management LLC boosted its position in shares of Miller Industries by 94.1% in the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock valued at $3,486,000 after purchasing an additional 30,714 shares during the period. Finally, 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. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Stock Performance

NYSE MLR opened at $72.71 on Friday. The firm has a market cap of $831.80 million, a P/E ratio of 12.06 and a beta of 0.96. Miller Industries, Inc. has a 52-week low of $38.33 and a 52-week high of $78.25. The business’s 50-day moving average price is $67.56 and its 200 day moving average price is $62.20. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR) last announced its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, meeting the consensus estimate of $1.33. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. The company had revenue of $314.27 million for the quarter. During the same quarter last year, the business posted $1.52 earnings per share. On average, equities research analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. Miller Industries’s payout ratio is currently 12.60%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MLR shares. StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and issued a $82.00 price target on shares of Miller Industries in a research report on Friday, November 15th.

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.