Miller Industries, Inc. (NYSE:MLR) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Miller Industries, Inc. (NYSE:MLR) by 188.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,391 shares of the auto parts company’s stock after purchasing an additional 24,449 shares during the period. The Manufacturers Life Insurance Company’s holdings in Miller Industries were worth $2,281,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AdvisorShares Investments LLC boosted its stake in Miller Industries by 7.4% during the second quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after buying an additional 9,384 shares during the last quarter. Narwhal Capital Management grew its holdings in shares of Miller Industries by 31.2% in the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after purchasing an additional 26,983 shares during the period. Principal Financial Group Inc. acquired a new stake in Miller Industries during the third quarter worth about $496,000. XTX Topco Ltd purchased a new position in Miller Industries during the second quarter worth about $468,000. Finally, Summit Global Investments purchased a new position in Miller Industries during the third quarter worth about $611,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Stock Up 0.3 %

Shares of NYSE:MLR opened at $72.90 on Monday. The company has a market capitalization of $833.98 million, a price-to-earnings ratio of 12.09 and a beta of 0.96. Miller Industries, Inc. has a 12-month low of $38.33 and a 12-month high of $78.25. The business has a 50-day moving average price of $67.81 and a 200 day moving average price of $62.33. The company has a current ratio of 2.12, a quick ratio of 1.46 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, hitting the consensus estimate of $1.33. The company had revenue of $314.27 million during the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same period last year, the business earned $1.52 EPS. Sell-side analysts expect that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.04%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MLR. StockNews.com cut shares of 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 objective on shares of Miller Industries in a research report on Friday, November 15th.

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.