Geode Capital Management LLC Acquires 490 Shares of Miller Industries, Inc. (NYSE:MLR)

Geode Capital Management LLC grew its stake in Miller Industries, Inc. (NYSE:MLR) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 267,247 shares of the auto parts company’s stock after purchasing an additional 490 shares during the period. Geode Capital Management LLC’s holdings in Miller Industries were worth $16,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in Miller Industries by 10.2% during the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock valued at $46,764,000 after buying an additional 71,231 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Miller Industries by 193.2% in the 3rd 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 during the period. Royce & Associates LP lifted its position 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 worth $30,288,000 after purchasing an additional 56,578 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Miller Industries by 11.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock valued at $22,435,000 after acquiring an additional 37,480 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Miller Industries by 94.1% in the second 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 last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MLR. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. DA Davidson restated a “buy” rating and set a $82.00 price target on shares of Miller Industries in a research note on Friday, November 15th.

Miller Industries Stock Down 2.9 %

Shares of MLR stock opened at $65.70 on Monday. Miller Industries, Inc. has a fifty-two week low of $38.33 and a fifty-two week high of $78.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm has a market capitalization of $751.54 million, a PE ratio of 10.90 and a beta of 0.96. The stock’s 50-day simple moving average is $69.86 and its 200-day simple moving average is $63.46.

Miller Industries (NYSE:MLR) last announced its quarterly 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 for the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same period in the prior year, the business posted $1.52 earnings per share. Equities 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 was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $0.19 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.16%. Miller Industries’s dividend payout ratio (DPR) is currently 12.60%.

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.